+Follow
Buddy_tree
No personal profile
26
Follow
2
Followers
0
Topic
0
Badge
Posts
Hot
Buddy_tree
2021-06-26
?
Why did Chongqing Brewery go on a drunken rampage after its stock price surged 68 billion yuan in a year?
Buddy_tree
2021-06-21
??????
Buddy_tree
2021-06-18
oooooo
Looking at Tmall's 618 shopping festival, we can see how the post-e-commerce era can start from the "new".
Go to Tiger App to see more news
{"i18n":{"language":"en_US"},"userPageInfo":{"id":"3584574180952528","uuid":"3584574180952528","gmtCreate":1621480156532,"gmtModify":1623895978316,"name":"Buddy_tree","pinyin":"buddytreebuddytree","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/4b2cac557b94430440b886d913a92836","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":2,"headSize":26,"tweetSize":10,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":2,"name":"无畏虎","nameTw":"無畏虎","represent":"初生牛犊","factor":"发布3条非转发主帖,1条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-3","templateUuid":"1026c425416b44e0aac28c11a0848493","name":" Tiger Idol","description":"Join the tiger community for 1500 days","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.09.17","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more than 10 stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"972123088c9646f7b6091ae0662215be-1","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Elite Trader","description":"Total number of securities or futures transactions reached 30","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"60.49%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":4,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":125536367,"gmtCreate":1624679493459,"gmtModify":1703843487494,"author":{"id":"3584574180952528","authorId":"3584574180952528","name":"Buddy_tree","avatar":"https://static.tigerbbs.com/4b2cac557b94430440b886d913a92836","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584574180952528","authorIdStr":"3584574180952528"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125536367","repostId":"1161096348","repostType":4,"repost":{"id":"1161096348","kind":"news","weMediaInfo":{"introduction":"博闻雅识，非凡之客。","home_visible":1,"media_name":"市界","id":"1019100707","head_image":"https://static.tigerbbs.com/f7aa5576660d42f195013ced4567a7f3"},"pubTimestamp":1624675950,"share":"https://ttm.financial/m/news/1161096348?lang=en_US&edition=fundamental","pubTime":"2021-06-26 10:52","market":"sh","language":"zh","title":"Why did Chongqing Brewery go on a drunken rampage after its stock price surged 68 billion yuan in a year?","url":"https://stock-news.laohu8.com/highlight/detail?id=1161096348","media":"市界","summary":"2011年12月15日，一位网友在重庆啤酒吧发了一篇《一边吃，一边哭》的帖子：今天回到家，煮了点面吃，一边吃面一边哭，泪水滴落在碗里，没有开灯。\n彼时，重庆啤酒做了十几年的疫苗梦彻底破碎，股价从历史高","content":"<p>On December 15, 2011, a netizen posted on<a href=\"https://laohu8.com/S/600132\">Chongqing Beer</a>A post titled \"Eating While Crying\" was posted on the forum: \"I got home today, cooked some noodles, and cried while eating. Tears dripped into the bowl. I didn't turn on the light.\"</p><p>At that time, Chongqing Brewery's vaccine dream, which had lasted for more than a decade, was completely shattered, and its stock price hit the daily limit down from its historical high. This stock investor completed a realistic novel in less than thirty words.</p><p>Another netizen in the comments section commented: This stock investor did not utter a single complaint, a single curse, a single word of grief and indignation, or a single word of pain, but his state of sorrow and numbness, and the torment of his soul and body, was vividly portrayed in just one sentence. \"No lights on\" is a true reflection of the exhaustion caused by the extreme shrinkage of life desires after profound spiritual innovation, and it can be described as the finishing touch.</p><p>\"Eating noodles with the lights off\" has been recorded in the history of A-shares. Ten years have passed, and this term has become a common phrase used by stock investors. However, Chongqing Brewery has become a completely different company since the international beer giant took over.</p><p>On June 25, Chongqing Brewery closed at a record high of 188.10 yuan per share, with a total market capitalization of 91 billion yuan. Since announcing its major asset restructuring at the end of March 2020, Chongqing Brewery's stock price has risen by 324% in just over a year, with its total market value increasing by more than 68 billion yuan.</p><p>If this netizen had held it until now, he might be sitting at home watching sports matches and drinking Moutai.</p><p><b>Retail investors turn off the lights and eat noodles, while Xu Xiang \"scratches the lottery\".</b></p><p>In the Chinese beer market, Chongqing Beer was originally an ordinary entity. For many years, Chongqing Brewery has remained confined to a corner, its scale inferior to giants such as China Resources, Tsingtao, Budweiser, and Yanjing, and its reputation is not large.</p><p>However, Chongqing Brewery has left behind many stories in the capital market.</p><p><img src=\"https://static.tigerbbs.com/8cf85a89f93931ce0e0e8708ecad58f4\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>Since its establishment in 1958, Chongqing Brewery has been mainly engaged in the manufacturing and sales of beer products, and has two major local brands: \"Chongqing\" and \"Mountain City\".<b>Interestingly, what made Chongqing Beer famous was not the beer, but the vaccine.</b></p><p>In 1997, Chongqing Brewery was listed on the Shanghai Stock Exchange, raising 212 million yuan. The following year, Chongqing Brewery entered the vaccine industry. This cross-industry venture not only shocked the beer industry, but also earned Chongqing Brewery the reputation of a \"demon stock\".</p><p>Chongqing Brewery's parent company, Chongqing Brewery Group, together with the Third Military Medical University and Chongqing University, jointly established Chongqing Jiachen Biotechnology Co., Ltd. (hereinafter referred to as \"Jiachen Biotechnology\"). Chongqing Brewery first invested 14.352 million yuan to acquire 52% of Jiachen Bio's equity from Chongqing Brewery Group. After several capital increases and equity transfers, by 2001, Chongqing Brewery had acquired 93.1% of Jiachen Bio's equity.</p><p>Chongqing Brewery has high hopes for a project called \"Therapeutic (Synthetic Peptide) Hepatitis B Vaccine\" and hopes to create a \"new profit growth point\" through it.</p><p><b>However, this beautiful dream lasted for thirteen years, and in the end, it woke up with a nightmare.</b></p><p>In the first few years, judging from Chongqing Brewery's announcements, the vaccine development was progressing very smoothly. By 2005, the project's Phase II and III clinical trial applications were approved. Securities firms were also very excited and started cheering for Chongqing Brewery.</p><p>The loudest shout was undoubtedly<a href=\"https://laohu8.com/S/601377\">Industrial Securities</a>Analyst Wang Xi. In August 2009, Wang Xi's research report, \"Chongqing Beer: Oranges Are Almost Red,\" was released, arguing that the vaccine story was becoming a reality and giving Chongqing Beer a \"strong recommendation.\" After that, research reports such as \"The Oranges Are Red\" and \"The Prospects for Vaccines Are Optimistic\" were released intensively, averaging one report per month for more than two years, and each report was \"strongly recommended\".</p><p>Chongqing Brewery's stock price soared like a rocket, but it quickly plummeted from the sky.</p><p>On the evening of December 7, 2011, Chongqing Brewery announced unblinded data: the response rates of placebo and therapeutic agents were very similar. In other words, a thirteen-year vaccine study can be concluded to have failed.</p><p>Starting from December 8, Chongqing Brewery experienced nine consecutive days of limit-down trading, with its stock price falling by nearly 75% in 18 trading days. On the sixth day of limit-down trading, a suffering stock investor created the classic quote \"Turn off the lights and eat noodles\".</p><p><img src=\"https://static.tigerbbs.com/59f519f906f8c7d74e60c5befb3dd333\" tg-width=\"886\" tg-height=\"251\" referrerpolicy=\"no-referrer\"></p><p>(Screenshot from stock forum)</p><p><b>Just when the market was bearish, Xu Xiang, the \"leader of the Ningbo limit-up daredevil team,\" sensed an opportunity and made two entries and two exits, becoming a \"god\" in one battle.</b></p><p>Xu Xiang bought at the bottom for the first time, halfway up the mountain, and cut his losses before exiting the market. Afterwards, Chongqing Brewery continued to decline, but he made a comeback, holding a heavy stake of 500 million yuan in Chongqing Brewery, bringing his shareholding ratio close to the threshold for takeover bid. In February 2012, Chongqing Brewery experienced a rebound, and Xu Xiang quickly sold off his shares. Xu Xiang profited greatly from this \"battle\". This is Xu Xiang's masterpiece after founding Zexi Investment.</p><p>Afterwards, Xu Xiang said, \"Chongqing Brewery is not a stock, it's a lottery ticket. The first time you scratch it off, it's 'thank you,' and the second time you scratch it off, it's still 'thank you.' At this point, everyone throws it away like waste paper, but the lottery ticket hasn't been scratched off yet. Or rather, some people believe that it hasn't been scratched off yet. What if there's a grand prize later? That's the logic of a rebound.\"</p><p><b>Xu Xiang won the lottery, but Chongqing Beer was delayed in its prime.</b></p><p>The years from Chongqing Brewery's listing to the shattered vaccine dream were the craziest period in China's beer industry, filled with the smell of capital—mergers and acquisitions, and land grabbing. China Resources has crossed over into a beer giant.<a href=\"https://laohu8.com/S/600600\">Tsingtao Beer</a>、<a href=\"https://laohu8.com/S/000729\">Yanjing Beer</a>, and international giants<a href=\"https://laohu8.com/S/BUD\">AB InBev</a>Even Carlsberg wasn't idle. Chongqing Brewery, however, has focused its attention on its vaccine project.</p><p>By 2012, Chongqing Brewery's operating revenue had only reached 3.149 billion yuan, still shrinking in the Southwest region. Yanjing Beer has become a giant with revenue exceeding 13 billion yuan, while Tsingtao Beer's revenue has reached 25.8 billion yuan, a significant difference.</p><p>It wasn't until Carlsberg took over and the vaccine project was transferred for 1 million yuan that Chongqing Brewery returned to its main business.</p><p><b>Asset restructuring led to revenue exceeding that of Yanjing.</b></p><p>During a period when big fish eat small fish frequently played out, Chongqing Beer did not take the initiative, and in the end, it was eaten by an even bigger fish.</p><p><b>Carlsberg completely acquired Chongqing Brewery in 2013—through acquisition and tender offer, its shareholding in Chongqing Brewery rose to 60%, and Chongqing Brewery fully entered the \"Carlsberg era\".</b></p><p><img src=\"https://static.tigerbbs.com/936062ff5aaa888a04597d4680f4a6d1\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>Carlsberg is the world's third-largest beer manufacturer and entered China as early as 1978. However, in the fierce competition among giants, it only managed to capture about 5% of the market share, ranking fifth in the industry, behind China Resources Snow Breweries, Tsingtao Brewery, and others.<a href=\"https://laohu8.com/S/0RJI.UK\">AB InBev</a>After Yanjing Beer, its market is mainly located in Yunnan, Tibet, Xinjiang, Gansu, Ningxia, Qinghai and other places.</p><p>When achieving absolute control of Chongqing Brewery, Carlsberg promised to inject its domestic beer business, which potentially competes with Chongqing Brewery, into the listed company within 4-7 years in order to solve the problem of competition among peers.</p><p>After becoming a member of the Carlsberg Group, Carlsberg transferred the production and sales rights of brands such as Leburg, Carlsberg, and Triumph 1664 White Beer to Chongqing Brewery. But the beer industry has changed dramatically. By 2019, Chongqing Brewery's revenue was less than 3.6 billion yuan.</p><p>In the final year of the commitment period, Chongqing Brewery finally received good news from its controlling shareholder, Carlsberg.</p><p><b>In 2020, Carlsberg fulfilled its commitment to resolving competition within the same industry. After more than nine months of progress, it completed a major asset restructuring in mid-December of that year, injecting the high-quality beer assets controlled by Carlsberg in China into Chongqing Brewery.</b>Following the restructuring, Chongqing Brewery became Carlsberg's sole platform for operating its beer assets in China.</p><p>With the completion of the restructuring, Chongqing Brewery has transformed from a regional beer company into a national beer giant. Its core markets have expanded from Chongqing, Sichuan and Hunan to Xinjiang, Ningxia, Yunnan, Guangdong, as well as East and North China, basically achieving a nationwide layout.</p><p>In terms of branding, a combination of \"strong local brands + high-end international brands\" has been formed. International high-end brands include Carlsberg, Leburg, 1664, and Greenburg.<a href=\"https://laohu8.com/S/BRKR\">Brooke</a>Lin, etc., and strong local brands include Chongqing, Shancheng, Wusu, Xixia, Dali, and Fenghua Xueyue.<a href=\"https://laohu8.com/S/603136\">Tianmu Lake</a>To meet the consumption needs of consumers in different consumption scenarios and price ranges.</p><p>Based on this, in 2020, Chongqing Brewery stepped into the \"10 billion yuan club\".</p><p>In 2020, Chongqing Brewery achieved operating revenue of 10.942 billion yuan and net profit attributable to the parent company of 1.077 billion yuan, which were 3 times and 1.6 times that of 2019, respectively. After restating the 2019 financial statements, Chongqing Brewery's revenue and net profit increased by 7.14% and 3.26% year-on-year in 2020, respectively, making it one of the few beer companies to achieve positive growth during the same period.</p><p>Because Yanjing Beer fell behind—in 2020, its operating revenue was 10.928 billion yuan, a year-on-year decrease of 4.71%; Net profit attributable to the parent company was 197 million yuan, a year-on-year decrease of 14.32%, making Chongqing Brewery the fourth largest beer brand in China.</p><p><img src=\"https://static.tigerbbs.com/b1bc6f9ecbf8c4c115c545d2688767ee\" tg-width=\"1080\" tg-height=\"714\" referrerpolicy=\"no-referrer\"></p><p>Chongqing Brewery is also enjoying great success in the capital market. What once made stock market investors \"turn off the lights and eat noodles\" has now impressed investors.</p><p>From the announcement of the major asset restructuring in March 2020 to June 25, 2021, Chongqing Brewery's stock price rose by 324%, and its total market value surged to 91 billion yuan. During the same period, Yanjing Beer's stock price rose by only 22%, while Tsingtao Beer's stock price rose by 151%.</p><p><b>However, Chongqing Brewery's valuation is also very high. On June 25, its rolling P/E was 74 times, prompting many investors to exclaim that \"there is foam in the beer\". In comparison, Tsingtao Beer's price is 56 times higher.</b></p><p><b>Existing market, intensifying competition</b></p><p>Completing its asset restructuring and entering the \"10 billion yuan club\" does not mean that Chongqing Brewery can rest easy.</p><p>In 2013, the year Chongqing Brewery officially entered the \"Carlsberg era,\" China's extensive and rapidly developing beer industry saw its total output reach a historical high, but it began to decline from 2014 onwards. In 2020, it decreased by more than 7%.</p><p>After years of fierce competition, the Chinese beer market has stopped growing in volume, and the situation of fragmentation among the major beer giants has stabilized.<a href=\"https://laohu8.com/S/00291\">CR Beer</a>Tsingtao Brewery, AB InBev, Yanjing Beer, and Carlsberg have all established their own strong markets. According to sales statistics, in 2020, the five giants occupied approximately 92% of the market share.</p><p><img src=\"https://static.tigerbbs.com/a7f67c21605e03249b175430ee11ea22\" tg-width=\"1080\" tg-height=\"747\" referrerpolicy=\"no-referrer\"></p><p><b>Clearly, China's beer industry has begun to compete in the existing market, and product structure upgrading has become a trend in the industry's development.</b></p><p>Previously, under the low-price strategy, lager (industrial beer) was the main sales type in my country's beer market. Today, consumers pursue high-quality, personalized products, and the concept of \"drinking good wine, drinking less wine\" is further driving the beer industry towards high-end development.</p><p>Chongqing Beer's product grades are classified according to consumer price. Prices above 10 yuan are classified as high-end, prices between 6 and 9 yuan are classified as mainstream, and prices below 6 yuan are classified as economy. The main representative brands of high-end brands include Wusu, Carlsberg, and 1664; the main representative brands of mainstream brands include Lebao, Chongqing, and Dali; and the main representative brands of economic brands include Shancheng and Tianmu Lake.</p><p>In 2020, high-end products generated revenue of 3.263 billion yuan, accounting for 29.86% of total revenue. Revenue from mainstream products was 5.912 billion yuan, accounting for 54.1% of total revenue; Revenue from economic products reached 1.45 billion yuan, accounting for 13.27% of total revenue.</p><p>During the same period, only high-end products achieved a significant increase, at 26.28%. Even so, Chongqing Brewery's product focus remains on the mainstream and downstream markets.</p><p>In 2018, Anheuser-Busch InBev dominated the domestic high-end and ultra-high-end beer market, accounting for 46.6% of the market share. Behind them are Tsingtao Brewery (14.4%), China Resources Snow Beer (11.0%), Carlsberg (4.6%), and Heineken (1.7%).</p><p>In April 2019, China Resources Beer completed the acquisition of Heineken China, gaining a trump card in its high-end development process. Hou Xiaohai, CEO of China Resources Beer, proclaimed the slogan \"Battle for the high-end market\". From then on, China Resources Beer's high-end market share further expanded.</p><p>In contrast, Chongqing Brewery originally had a negligible share in the high-end market and was classified as \"other\". In 2020, the completion of the asset restructuring between Carlsberg and Chongqing Brewery had little impact on its market share in the high-end market.</p><p>Therefore,<b>Among the giants, Chongqing Brewery (Carlsberg) still ranks last in market share.</b></p><p><img src=\"https://static.tigerbbs.com/39731b5e6a5bb15e842439a2e8960194\" tg-width=\"823\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>In its annual report, Chongqing Brewery stated that the company continues to promote a high-end product business strategy, vigorously promoting the growth of high-end products in terms of product structure, increasing the sales volume and sales proportion of high-end products, and thus achieving the implementation of high-end products.</p><p>At the earnings conference, Lee Chee Kong, president of Chongqing Brewery, said that Wusu has become the company's number one brand in terms of both sales volume and revenue.</p><p>Wusu comes from Xinjiang. Initially, it built a reputation in ready-to-drink channels such as barbecue restaurants, and later became an \"internet celebrity\" through internet spread. Today, Wusu has become a major product in Chongqing's high-end beer market.</p><p>In 2021, Chongqing Brewery will add 20 new \"big city plans\" in Urumqi and Suzhou to continue to cultivate markets outside of Xinjiang.</p><p><b>However, a research report by CICC analyzed that if other leading companies increase their channel monopolies, Wusu's sales volume may fall short of expectations. In addition, competition in the high-end market is intensifying, and niche craft beer brands are also trying to get a piece of the pie through financing.</b></p><p>2021 was a big year for sports. In this height of summer, the European Championship and the Copa America, which were \"a year late,\" are in full swing, and the Tokyo Olympics will open on July 23. Of course, this period is also the time when competition among major beer brands is most intense.</p><p>Lee Chee Kong's idea is wonderful: \"Consumers can drink Leburg while singing karaoke, enjoy the romance of French style by ordering 1664 in a bar, pair it with Usu beer while eating barbecue and skewers, and drink Double Beer while eating hot pot with friends.\"</p><p>However, reality is still very cruel. In the \"involutionized\" beer industry, giants are trying every means to seek new growth. Therefore, competition will only intensify.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why did Chongqing Brewery go on a drunken rampage after its stock price surged 68 billion yuan in a year?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy did Chongqing Brewery go on a drunken rampage after its stock price surged 68 billion yuan in a year?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1019100707\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/f7aa5576660d42f195013ced4567a7f3);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">市界 </p>\n<p class=\"h-time smaller\">2021-06-26 10:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On December 15, 2011, a netizen posted on<a href=\"https://laohu8.com/S/600132\">Chongqing Beer</a>A post titled \"Eating While Crying\" was posted on the forum: \"I got home today, cooked some noodles, and cried while eating. Tears dripped into the bowl. I didn't turn on the light.\"</p><p>At that time, Chongqing Brewery's vaccine dream, which had lasted for more than a decade, was completely shattered, and its stock price hit the daily limit down from its historical high. This stock investor completed a realistic novel in less than thirty words.</p><p>Another netizen in the comments section commented: This stock investor did not utter a single complaint, a single curse, a single word of grief and indignation, or a single word of pain, but his state of sorrow and numbness, and the torment of his soul and body, was vividly portrayed in just one sentence. \"No lights on\" is a true reflection of the exhaustion caused by the extreme shrinkage of life desires after profound spiritual innovation, and it can be described as the finishing touch.</p><p>\"Eating noodles with the lights off\" has been recorded in the history of A-shares. Ten years have passed, and this term has become a common phrase used by stock investors. However, Chongqing Brewery has become a completely different company since the international beer giant took over.</p><p>On June 25, Chongqing Brewery closed at a record high of 188.10 yuan per share, with a total market capitalization of 91 billion yuan. Since announcing its major asset restructuring at the end of March 2020, Chongqing Brewery's stock price has risen by 324% in just over a year, with its total market value increasing by more than 68 billion yuan.</p><p>If this netizen had held it until now, he might be sitting at home watching sports matches and drinking Moutai.</p><p><b>Retail investors turn off the lights and eat noodles, while Xu Xiang \"scratches the lottery\".</b></p><p>In the Chinese beer market, Chongqing Beer was originally an ordinary entity. For many years, Chongqing Brewery has remained confined to a corner, its scale inferior to giants such as China Resources, Tsingtao, Budweiser, and Yanjing, and its reputation is not large.</p><p>However, Chongqing Brewery has left behind many stories in the capital market.</p><p><img src=\"https://static.tigerbbs.com/8cf85a89f93931ce0e0e8708ecad58f4\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>Since its establishment in 1958, Chongqing Brewery has been mainly engaged in the manufacturing and sales of beer products, and has two major local brands: \"Chongqing\" and \"Mountain City\".<b>Interestingly, what made Chongqing Beer famous was not the beer, but the vaccine.</b></p><p>In 1997, Chongqing Brewery was listed on the Shanghai Stock Exchange, raising 212 million yuan. The following year, Chongqing Brewery entered the vaccine industry. This cross-industry venture not only shocked the beer industry, but also earned Chongqing Brewery the reputation of a \"demon stock\".</p><p>Chongqing Brewery's parent company, Chongqing Brewery Group, together with the Third Military Medical University and Chongqing University, jointly established Chongqing Jiachen Biotechnology Co., Ltd. (hereinafter referred to as \"Jiachen Biotechnology\"). Chongqing Brewery first invested 14.352 million yuan to acquire 52% of Jiachen Bio's equity from Chongqing Brewery Group. After several capital increases and equity transfers, by 2001, Chongqing Brewery had acquired 93.1% of Jiachen Bio's equity.</p><p>Chongqing Brewery has high hopes for a project called \"Therapeutic (Synthetic Peptide) Hepatitis B Vaccine\" and hopes to create a \"new profit growth point\" through it.</p><p><b>However, this beautiful dream lasted for thirteen years, and in the end, it woke up with a nightmare.</b></p><p>In the first few years, judging from Chongqing Brewery's announcements, the vaccine development was progressing very smoothly. By 2005, the project's Phase II and III clinical trial applications were approved. Securities firms were also very excited and started cheering for Chongqing Brewery.</p><p>The loudest shout was undoubtedly<a href=\"https://laohu8.com/S/601377\">Industrial Securities</a>Analyst Wang Xi. In August 2009, Wang Xi's research report, \"Chongqing Beer: Oranges Are Almost Red,\" was released, arguing that the vaccine story was becoming a reality and giving Chongqing Beer a \"strong recommendation.\" After that, research reports such as \"The Oranges Are Red\" and \"The Prospects for Vaccines Are Optimistic\" were released intensively, averaging one report per month for more than two years, and each report was \"strongly recommended\".</p><p>Chongqing Brewery's stock price soared like a rocket, but it quickly plummeted from the sky.</p><p>On the evening of December 7, 2011, Chongqing Brewery announced unblinded data: the response rates of placebo and therapeutic agents were very similar. In other words, a thirteen-year vaccine study can be concluded to have failed.</p><p>Starting from December 8, Chongqing Brewery experienced nine consecutive days of limit-down trading, with its stock price falling by nearly 75% in 18 trading days. On the sixth day of limit-down trading, a suffering stock investor created the classic quote \"Turn off the lights and eat noodles\".</p><p><img src=\"https://static.tigerbbs.com/59f519f906f8c7d74e60c5befb3dd333\" tg-width=\"886\" tg-height=\"251\" referrerpolicy=\"no-referrer\"></p><p>(Screenshot from stock forum)</p><p><b>Just when the market was bearish, Xu Xiang, the \"leader of the Ningbo limit-up daredevil team,\" sensed an opportunity and made two entries and two exits, becoming a \"god\" in one battle.</b></p><p>Xu Xiang bought at the bottom for the first time, halfway up the mountain, and cut his losses before exiting the market. Afterwards, Chongqing Brewery continued to decline, but he made a comeback, holding a heavy stake of 500 million yuan in Chongqing Brewery, bringing his shareholding ratio close to the threshold for takeover bid. In February 2012, Chongqing Brewery experienced a rebound, and Xu Xiang quickly sold off his shares. Xu Xiang profited greatly from this \"battle\". This is Xu Xiang's masterpiece after founding Zexi Investment.</p><p>Afterwards, Xu Xiang said, \"Chongqing Brewery is not a stock, it's a lottery ticket. The first time you scratch it off, it's 'thank you,' and the second time you scratch it off, it's still 'thank you.' At this point, everyone throws it away like waste paper, but the lottery ticket hasn't been scratched off yet. Or rather, some people believe that it hasn't been scratched off yet. What if there's a grand prize later? That's the logic of a rebound.\"</p><p><b>Xu Xiang won the lottery, but Chongqing Beer was delayed in its prime.</b></p><p>The years from Chongqing Brewery's listing to the shattered vaccine dream were the craziest period in China's beer industry, filled with the smell of capital—mergers and acquisitions, and land grabbing. China Resources has crossed over into a beer giant.<a href=\"https://laohu8.com/S/600600\">Tsingtao Beer</a>、<a href=\"https://laohu8.com/S/000729\">Yanjing Beer</a>, and international giants<a href=\"https://laohu8.com/S/BUD\">AB InBev</a>Even Carlsberg wasn't idle. Chongqing Brewery, however, has focused its attention on its vaccine project.</p><p>By 2012, Chongqing Brewery's operating revenue had only reached 3.149 billion yuan, still shrinking in the Southwest region. Yanjing Beer has become a giant with revenue exceeding 13 billion yuan, while Tsingtao Beer's revenue has reached 25.8 billion yuan, a significant difference.</p><p>It wasn't until Carlsberg took over and the vaccine project was transferred for 1 million yuan that Chongqing Brewery returned to its main business.</p><p><b>Asset restructuring led to revenue exceeding that of Yanjing.</b></p><p>During a period when big fish eat small fish frequently played out, Chongqing Beer did not take the initiative, and in the end, it was eaten by an even bigger fish.</p><p><b>Carlsberg completely acquired Chongqing Brewery in 2013—through acquisition and tender offer, its shareholding in Chongqing Brewery rose to 60%, and Chongqing Brewery fully entered the \"Carlsberg era\".</b></p><p><img src=\"https://static.tigerbbs.com/936062ff5aaa888a04597d4680f4a6d1\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>Carlsberg is the world's third-largest beer manufacturer and entered China as early as 1978. However, in the fierce competition among giants, it only managed to capture about 5% of the market share, ranking fifth in the industry, behind China Resources Snow Breweries, Tsingtao Brewery, and others.<a href=\"https://laohu8.com/S/0RJI.UK\">AB InBev</a>After Yanjing Beer, its market is mainly located in Yunnan, Tibet, Xinjiang, Gansu, Ningxia, Qinghai and other places.</p><p>When achieving absolute control of Chongqing Brewery, Carlsberg promised to inject its domestic beer business, which potentially competes with Chongqing Brewery, into the listed company within 4-7 years in order to solve the problem of competition among peers.</p><p>After becoming a member of the Carlsberg Group, Carlsberg transferred the production and sales rights of brands such as Leburg, Carlsberg, and Triumph 1664 White Beer to Chongqing Brewery. But the beer industry has changed dramatically. By 2019, Chongqing Brewery's revenue was less than 3.6 billion yuan.</p><p>In the final year of the commitment period, Chongqing Brewery finally received good news from its controlling shareholder, Carlsberg.</p><p><b>In 2020, Carlsberg fulfilled its commitment to resolving competition within the same industry. After more than nine months of progress, it completed a major asset restructuring in mid-December of that year, injecting the high-quality beer assets controlled by Carlsberg in China into Chongqing Brewery.</b>Following the restructuring, Chongqing Brewery became Carlsberg's sole platform for operating its beer assets in China.</p><p>With the completion of the restructuring, Chongqing Brewery has transformed from a regional beer company into a national beer giant. Its core markets have expanded from Chongqing, Sichuan and Hunan to Xinjiang, Ningxia, Yunnan, Guangdong, as well as East and North China, basically achieving a nationwide layout.</p><p>In terms of branding, a combination of \"strong local brands + high-end international brands\" has been formed. International high-end brands include Carlsberg, Leburg, 1664, and Greenburg.<a href=\"https://laohu8.com/S/BRKR\">Brooke</a>Lin, etc., and strong local brands include Chongqing, Shancheng, Wusu, Xixia, Dali, and Fenghua Xueyue.<a href=\"https://laohu8.com/S/603136\">Tianmu Lake</a>To meet the consumption needs of consumers in different consumption scenarios and price ranges.</p><p>Based on this, in 2020, Chongqing Brewery stepped into the \"10 billion yuan club\".</p><p>In 2020, Chongqing Brewery achieved operating revenue of 10.942 billion yuan and net profit attributable to the parent company of 1.077 billion yuan, which were 3 times and 1.6 times that of 2019, respectively. After restating the 2019 financial statements, Chongqing Brewery's revenue and net profit increased by 7.14% and 3.26% year-on-year in 2020, respectively, making it one of the few beer companies to achieve positive growth during the same period.</p><p>Because Yanjing Beer fell behind—in 2020, its operating revenue was 10.928 billion yuan, a year-on-year decrease of 4.71%; Net profit attributable to the parent company was 197 million yuan, a year-on-year decrease of 14.32%, making Chongqing Brewery the fourth largest beer brand in China.</p><p><img src=\"https://static.tigerbbs.com/b1bc6f9ecbf8c4c115c545d2688767ee\" tg-width=\"1080\" tg-height=\"714\" referrerpolicy=\"no-referrer\"></p><p>Chongqing Brewery is also enjoying great success in the capital market. What once made stock market investors \"turn off the lights and eat noodles\" has now impressed investors.</p><p>From the announcement of the major asset restructuring in March 2020 to June 25, 2021, Chongqing Brewery's stock price rose by 324%, and its total market value surged to 91 billion yuan. During the same period, Yanjing Beer's stock price rose by only 22%, while Tsingtao Beer's stock price rose by 151%.</p><p><b>However, Chongqing Brewery's valuation is also very high. On June 25, its rolling P/E was 74 times, prompting many investors to exclaim that \"there is foam in the beer\". In comparison, Tsingtao Beer's price is 56 times higher.</b></p><p><b>Existing market, intensifying competition</b></p><p>Completing its asset restructuring and entering the \"10 billion yuan club\" does not mean that Chongqing Brewery can rest easy.</p><p>In 2013, the year Chongqing Brewery officially entered the \"Carlsberg era,\" China's extensive and rapidly developing beer industry saw its total output reach a historical high, but it began to decline from 2014 onwards. In 2020, it decreased by more than 7%.</p><p>After years of fierce competition, the Chinese beer market has stopped growing in volume, and the situation of fragmentation among the major beer giants has stabilized.<a href=\"https://laohu8.com/S/00291\">CR Beer</a>Tsingtao Brewery, AB InBev, Yanjing Beer, and Carlsberg have all established their own strong markets. According to sales statistics, in 2020, the five giants occupied approximately 92% of the market share.</p><p><img src=\"https://static.tigerbbs.com/a7f67c21605e03249b175430ee11ea22\" tg-width=\"1080\" tg-height=\"747\" referrerpolicy=\"no-referrer\"></p><p><b>Clearly, China's beer industry has begun to compete in the existing market, and product structure upgrading has become a trend in the industry's development.</b></p><p>Previously, under the low-price strategy, lager (industrial beer) was the main sales type in my country's beer market. Today, consumers pursue high-quality, personalized products, and the concept of \"drinking good wine, drinking less wine\" is further driving the beer industry towards high-end development.</p><p>Chongqing Beer's product grades are classified according to consumer price. Prices above 10 yuan are classified as high-end, prices between 6 and 9 yuan are classified as mainstream, and prices below 6 yuan are classified as economy. The main representative brands of high-end brands include Wusu, Carlsberg, and 1664; the main representative brands of mainstream brands include Lebao, Chongqing, and Dali; and the main representative brands of economic brands include Shancheng and Tianmu Lake.</p><p>In 2020, high-end products generated revenue of 3.263 billion yuan, accounting for 29.86% of total revenue. Revenue from mainstream products was 5.912 billion yuan, accounting for 54.1% of total revenue; Revenue from economic products reached 1.45 billion yuan, accounting for 13.27% of total revenue.</p><p>During the same period, only high-end products achieved a significant increase, at 26.28%. Even so, Chongqing Brewery's product focus remains on the mainstream and downstream markets.</p><p>In 2018, Anheuser-Busch InBev dominated the domestic high-end and ultra-high-end beer market, accounting for 46.6% of the market share. Behind them are Tsingtao Brewery (14.4%), China Resources Snow Beer (11.0%), Carlsberg (4.6%), and Heineken (1.7%).</p><p>In April 2019, China Resources Beer completed the acquisition of Heineken China, gaining a trump card in its high-end development process. Hou Xiaohai, CEO of China Resources Beer, proclaimed the slogan \"Battle for the high-end market\". From then on, China Resources Beer's high-end market share further expanded.</p><p>In contrast, Chongqing Brewery originally had a negligible share in the high-end market and was classified as \"other\". In 2020, the completion of the asset restructuring between Carlsberg and Chongqing Brewery had little impact on its market share in the high-end market.</p><p>Therefore,<b>Among the giants, Chongqing Brewery (Carlsberg) still ranks last in market share.</b></p><p><img src=\"https://static.tigerbbs.com/39731b5e6a5bb15e842439a2e8960194\" tg-width=\"823\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>In its annual report, Chongqing Brewery stated that the company continues to promote a high-end product business strategy, vigorously promoting the growth of high-end products in terms of product structure, increasing the sales volume and sales proportion of high-end products, and thus achieving the implementation of high-end products.</p><p>At the earnings conference, Lee Chee Kong, president of Chongqing Brewery, said that Wusu has become the company's number one brand in terms of both sales volume and revenue.</p><p>Wusu comes from Xinjiang. Initially, it built a reputation in ready-to-drink channels such as barbecue restaurants, and later became an \"internet celebrity\" through internet spread. Today, Wusu has become a major product in Chongqing's high-end beer market.</p><p>In 2021, Chongqing Brewery will add 20 new \"big city plans\" in Urumqi and Suzhou to continue to cultivate markets outside of Xinjiang.</p><p><b>However, a research report by CICC analyzed that if other leading companies increase their channel monopolies, Wusu's sales volume may fall short of expectations. In addition, competition in the high-end market is intensifying, and niche craft beer brands are also trying to get a piece of the pie through financing.</b></p><p>2021 was a big year for sports. In this height of summer, the European Championship and the Copa America, which were \"a year late,\" are in full swing, and the Tokyo Olympics will open on July 23. Of course, this period is also the time when competition among major beer brands is most intense.</p><p>Lee Chee Kong's idea is wonderful: \"Consumers can drink Leburg while singing karaoke, enjoy the romance of French style by ordering 1664 in a bar, pair it with Usu beer while eating barbecue and skewers, and drink Double Beer while eating hot pot with friends.\"</p><p>However, reality is still very cruel. In the \"involutionized\" beer industry, giants are trying every means to seek new growth. Therefore, competition will only intensify.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8cf85a89f93931ce0e0e8708ecad58f4","relate_stocks":{"600132":"重庆啤酒"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161096348","content_text":"2011年12月15日，一位网友在重庆啤酒吧发了一篇《一边吃，一边哭》的帖子：今天回到家，煮了点面吃，一边吃面一边哭，泪水滴落在碗里，没有开灯。\n彼时，重庆啤酒做了十几年的疫苗梦彻底破碎，股价从历史高点连续跌停。这位股民用不到三十个字，完成了一篇现实主义小说。\n评论区另有网友解读：这位股民没有一句埋怨、一声咒骂、一字悲愤、一语伤痛，但他那悲哀至麻木，灵魂与肉体备受煎熬的状态，却被短短一句话淋漓地刻画出来。“没有开灯”，正是精神深创之后人生欲望极度萎缩的疲惫之态的真实写照，可谓点睛之笔。\n“关灯吃面”载入A股史册。十年过去了，这个词已经变成了股民常用词，而重庆啤酒在国际啤酒巨头入主后，已不可同日而语。\n6月25日，重庆啤酒收盘价188.10元/股创下历史新高，总市值达910亿元。从2020年3月底公告重大资产重组至今，一年多的时间里，重庆啤酒股价涨幅达324%，总市值上涨超680亿元。\n倘若这位网友持有至今，现在可能正坐在家里看着体育比赛，喝着茅台。\n散户关灯吃面，徐翔“刮彩票”\n在中国啤酒市场，重庆啤酒原本是一个平凡的存在。多少年来，重庆啤酒都偏安一隅，规模赶不上华润、青岛、百威、燕京等巨头，名气也不大。\n不过，在资本市场上，重庆啤酒却留下了很多故事。\n\n自1958年建厂以来，重庆啤酒一直主要从事啤酒产品的制造与销售业务，拥有“重庆”和“山城”两大本地品牌。有意思的是，使重庆啤酒名声大噪的并不是啤酒，而是疫苗。\n1997年，重庆啤酒在上交所挂牌上市，募集资金2.12亿元。次年，重庆啤酒就踏入了疫苗行业。这次跨界不仅让啤酒圈震惊，而且成就了重庆啤酒“妖股”之名。\n重庆啤酒母公司重啤集团与第三军医大学、重庆大学共同组建了重庆佳辰生物工程有限公司（简称“佳辰生物”）。重庆啤酒先是斥资1435.20万元，从重啤集团手中受让佳辰生物52%的股权，之后，几经增资和股权转让，到2001年，重庆啤酒已取得佳辰生物93.1%的股权。\n重庆啤酒寄予厚望的是，一个叫“治疗用（合成肽）乙型肝炎疫苗”的项目，并想借此创造一个“新的利润增长点”。\n不过，这场美梦做了十三年，最终却以噩梦惊醒。\n开始几年，从重庆啤酒的公告中看，疫苗研发推进还非常顺利，到2005年时，项目II、III期临床试验申请得到批复。券商也非常兴奋，为重庆啤酒开始加油呐喊。\n呐喊声最大的当属兴业证券的分析师王晞。2009年8月，王晞的研究报告《重庆啤酒：橘子快红了》发布，认为疫苗故事正在变成现实，给予重庆啤酒“强烈推荐”。之后，《橘子红了》《疫苗前景乐观》等研报密集推出，两年多时间，平均每月一份，每份都“强烈推荐”。\n重庆啤酒的股价像坐上了火箭一样，但是，很快就从高空坠落了。\n2011年12月7日晚间，重庆啤酒公告了揭盲数据：安慰剂与治疗药剂应答率十分接近。也就是说，一场历经十三年的疫苗研究，可以断定失败了。\n从12月8日起，重庆啤酒连续九个一字板跌停，股价在18个交易日下跌近75%。在第六个跌停日，一位备受煎熬的股民，创作了“关灯吃面”经典语录。\n\n（股吧截图）\n就在市场看空的时候，“宁波涨停板敢死队总舵主”徐翔却嗅到了机会，两进两出，一战封“神”。\n徐翔第一次抄底，抄在了半山腰，割肉离场。之后，重庆啤酒继续下挫，他又卷土重来，重仓重庆啤酒达5亿元，持股比例接近举牌线。2012年2月，重庆啤酒迎来一波反弹，徐翔快速卖出。这一次“战役”，徐翔获利颇丰。这是徐翔成立泽熙投资后的封神之作。\n事后，徐翔说：“重庆啤酒不是股票，是彩票。第一次刮出来是‘谢谢你’，第二次刮出来还是‘谢谢你’，这时候大家都把它当废纸扔了，但彩票还没刮完，或者说，有人相信它还没刮完，万一后面是一个特等奖呢？这就是反弹的逻辑。”\n徐翔刮中了彩票，可重庆啤酒却被耽误在了最好的年纪。\n从重庆啤酒上市到疫苗梦碎的这些年，是中国啤酒行业最疯狂的时期，到处都充斥着资本的味道——并购整合，跑马圈地。华润跨界变成了啤酒巨头，青岛啤酒、燕京啤酒，以及国际巨头百威英博、嘉士伯都没闲着。而重庆啤酒，却将心思花在了疫苗项目上。\n到2012年，重庆啤酒的营业收入才达到31.49亿元，依然蜷缩在西南地区。而燕京啤酒已经成了营收超130亿的巨头，青岛啤酒的收入规模更是达到了258亿元，差距悬殊。\n直到嘉士伯的入主，疫苗项目被以100万元转让，重庆啤酒才重归主业。\n资产重组，营收超过燕京\n在大鱼吃小鱼频频上演的时期，重庆啤酒没有主动出击，到头来，自己却被更大的鱼给吃了。\n嘉士伯在2013年彻底“饮下”了重庆啤酒——通过受让和要约收购，对重庆啤酒的持股比例上升到了60%，重庆啤酒完全进入到了“嘉士伯时代”。\n\n嘉士伯是全球第三大啤酒商，早在1978年就进入中国。不过，在巨头混战的惨烈竞争中，只拼得了5%左右的市场份额，位列行业第五，身居华润雪花、青岛啤酒、百威英博、燕京啤酒之后，市场更多的是在云南、西藏、新疆、甘肃、宁夏、青海等地。\n实现对重庆啤酒的绝对控股时，嘉士伯承诺在4-7年内将其与重庆啤酒存在潜在竞争的国内啤酒业务注入到上市公司，以解决同业竞争问题。\n在成为嘉士伯集团成员后，嘉士伯将乐堡、嘉士伯、凯旋1664白啤酒等品牌的生产和销售权给了重庆啤酒。但是，啤酒行业已经变了天。到2019年，重庆啤酒营收也还不到36亿元。\n在承诺期的最后一年，重庆啤酒终于等来了控股股东嘉士伯的好消息。\n2020年，嘉士伯履行解决同业竞争承诺，历经9个多月的推进，在当年12月中旬完成了重大资产重组，将嘉士伯在中国控制的优质啤酒资产注入重庆啤酒。重组完成后，重庆啤酒成为嘉士伯在中国运营啤酒资产的唯一平台。\n随着重组的完成，重庆啤酒从一家区域性啤酒企业，变成了全国性的啤酒巨头，核心市场从重庆、四川和湖南，进一步扩展到了新疆、宁夏、云南、广东，以及华东、华北地区，基本实现了全国化布局。\n在品牌上，形成了“本地强势品牌+国际高端品牌”的组合。国际高端品牌有嘉士伯、乐堡、1664、格林堡、布鲁克林等，本地强势品牌有重庆、山城、乌苏、 西夏、大理、风花雪月、天目湖等，满足消费者在不同消费场景和价格区间的消费需求。\n基于此，2020年，重庆啤酒一步跨进了“百亿俱乐部”。\n2020年，重庆啤酒实现营业收入109.42亿元，实现归母净利润10.77亿元，分别为2019年的3倍、1.6倍。对2019年度报表数据进行重述后，2020年，重庆啤酒营收和净利润同比分别增长了7.14%、3.26%，是同期为数不多实现正增长的啤酒企业。\n因为燕京啤酒的掉队——2020年，营业收入为109.28亿元，同比下降4.71%；归母净利润为1.97亿元，同比下降14.32%——重庆啤酒一跃成为中国啤酒市场的老四。\n\n在资本市场，重庆啤酒同样风光。曾经使股民“关灯吃面”，如今令投资者刮目相看。\n从2020年3月公告重大资产重组，到2021年6月25日，重庆啤酒股价涨幅达324%，总市值冲上了910亿元。同期，燕京啤酒涨幅不过22%，青岛啤酒为151%。\n不过，重庆啤酒的估值也很高。6月25日，其滚动市盈率为74倍，让不少投资者直呼“啤酒中有泡沫”。相较之下，青岛啤酒为56倍。\n存量市场，竞争加剧\n完成资产重组、跨进“百亿俱乐部”，并不等于重庆啤酒可以高枕无忧。\n重庆啤酒正式进入“嘉士伯时代”那年，即2013年，粗放式高歌猛进的中国啤酒业，总产量到达了历史最高点，从2014年开始，就一路下滑。2020年，更是下降超过7%。\n经过多年的鏖战，中国啤酒市场已经告别了量的增长，诸侯割据的形势趋于稳定，五大啤酒巨头——华润啤酒、青岛啤酒、百威英博、燕京啤酒、嘉士伯，都已经有了自己的强势市场。按销量统计，2020年，五巨头已经占领了约92%的市场份额。\n\n很显然，中国啤酒行业已开始在存量市场竞争，产品结构升级成了行业发展的趋势。\n以前，在低价策略下，拉格啤酒（工业啤酒）是我国啤酒市场主要的销售类型。如今，消费者追求高品质、个性化的产品，“喝好酒，少喝酒”进一步驱动啤酒行业走向高端化。\n重庆啤酒的产品档次按消费价格进行划分，消费价格10元以上被划分为高档，6元至9元被划分为主流，6元以下为经济。高档主要代表品牌有乌苏、嘉士伯、1664，主流主要代表品牌有乐堡、重庆、大理，经济主要代表品牌有山城、天目湖。\n2020年，高档产品实现收入32.63亿元，营收占比为29.86%；主流产品收入59.12亿元，营收占比为54.1%；经济产品收入14.50亿元，营收占比为13.27%。\n同期，只有高档产品实现了较大的增幅，为26.28%。即使如此，重庆啤酒的产品重心依然在主流及以下市场。\n在国内高端及超高端啤酒市场，按消费量统计，2018年的时候，百威英博一家独大，占领了46.6%的市场份额。身后依次为青岛啤酒14.4%，华润雪花11.0%，嘉士伯4.6%，喜力1.7%。\n2019年4月，华润啤酒完成了对喜力中国的收购，拿到了高端化进程中的一张王牌。华润啤酒CEO侯孝海喊出了“决战高端”的口号。从此，华润啤酒的高端份额进一步扩大。\n相比之下，重庆啤酒原本在高端市场的份额微乎其微，被划归在“其他”里面。2020年，嘉士伯与重庆啤酒资产重组完成后，对其高端市场的份额影响并不大。\n因此，在巨头之中，重庆啤酒（嘉士伯）的市场份额依然处于末尾。\n\n重庆啤酒在年报中表示，公司持续推动产品高端化经营策略，从产品结构上，大力推动高档产品增长，提高高档产品的销量和销售占比，从而实现产品高端化实施。\n在业绩说明会上，重庆啤酒总裁Lee Chee Kong（李志刚，马来西亚国籍）称，无论从销量还是收入上来讲，乌苏已经成为公司第一大品牌。\n乌苏来自新疆，初期在烧烤店等即饮渠道积累了口碑，之后经过互联网传播变成了“网红”。如今，乌苏已经成了重庆啤酒高端市场的大单品。\n2021年，重庆啤酒将新增20个乌苏“大城市计划”，继续深耕新疆以外的市场。\n不过，中金研报分析称，若其他龙头加大渠道垄断力度，乌苏放量可能会不达预期。此外，高端竞争正在加剧，小众的精酿品牌通过融资也在想方设法分一块蛋糕。\n2021年是个体育“大年”。在这个盛夏，“迟到一年”的欧洲杯、美洲杯正在火热进行，东京奥运会也将于7月23日开幕。当然，这期间，也是各大啤酒品牌竞争最激烈的时候。\nLee Chee Kong的设想很美好：“消费者唱K的时候可以喝乐堡，在酒吧里点1664享受的是法式风情的浪漫，吃烧烤撸串的时候配乌苏啤酒，和朋友吃火锅的时候喝重啤。”\n不过，现实还是很残酷的。在“内卷化”的啤酒行业，巨头们都在想尽办法寻求新的增长。因此，竞争只会更加激烈。","news_type":1,"symbols_score_info":{"600132":0.9}},"isVote":1,"tweetType":1,"viewCount":4352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167463523,"gmtCreate":1624282588162,"gmtModify":1703832353286,"author":{"id":"3584574180952528","authorId":"3584574180952528","name":"Buddy_tree","avatar":"https://static.tigerbbs.com/4b2cac557b94430440b886d913a92836","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584574180952528","authorIdStr":"3584574180952528"},"themes":[],"title":"","htmlText":"??????","listText":"??????","text":"??????","images":[{"img":"https://static.tigerbbs.com/2c38d21c00524d9fd0eda5014b94e821","width":"1242","height":"2151"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/167463523","isVote":1,"tweetType":1,"viewCount":4850,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":168802327,"gmtCreate":1623969775869,"gmtModify":1703824782991,"author":{"id":"3584574180952528","authorId":"3584574180952528","name":"Buddy_tree","avatar":"https://static.tigerbbs.com/4b2cac557b94430440b886d913a92836","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584574180952528","authorIdStr":"3584574180952528"},"themes":[],"title":"","htmlText":"oooooo","listText":"oooooo","text":"oooooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/168802327","repostId":"1105666914","repostType":4,"repost":{"id":"1105666914","kind":"news","weMediaInfo":{"introduction":"华商人物与企业新媒体第一殿堂。","home_visible":1,"media_name":"华商韬略","id":"27","head_image":"https://static.tigerbbs.com/08f34cc62ee54134a6a68fe6538c26f8"},"pubTimestamp":1623942632,"share":"https://ttm.financial/m/news/1105666914?lang=en_US&edition=fundamental","pubTime":"2021-06-17 23:10","market":"hk","language":"zh","title":"Looking at Tmall's 618 shopping festival, we can see how the post-e-commerce era can start from the \"new\".","url":"https://stock-news.laohu8.com/highlight/detail?id=1105666914","media":"华商韬略","summary":"随着2015年天猫打造第一届双11狂欢夜，“娱乐晚会+电商业务”融合创新的模式，才开始兴起。为生活创造新惊喜，离不开天猫618业务侧的全“新”出击，通过业务承接，更好赋能消费者和品牌商家。作为全球最大的新品牌孵化平台、电商行业的头部玩家，天猫在618最后一波大促节点以天猫开心夜为引爆点，交出了一份既有心意也有新意的优秀答卷。","content":"<p>Let shopping return to its simplest and purest pleasure. Last night, Tmall Happy Night came to a successful conclusion, presenting us with more than just a dazzling and gorgeous stage; it also offered many profound business insights.</p><p><img src=\"https://static.tigerbbs.com/73b05fbcdd3bf4e092f794953fcde5bf\" tg-width=\"800\" tg-height=\"214\" referrerpolicy=\"no-referrer\"></p><p>\"We've been thinking about whether there are any innovative ways to play the commercial gala? What new paths can we explore? While retaining the singing elements, can we find some more fresh content?\" said Wang Qin, producer of this year's Tmall Happy Night, in a media interview.</p><p><img src=\"https://static.tigerbbs.com/4200d36a11d1618fcff8e15a40c66891\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p>Seven years ago, the history of e-commerce galas was a blank slate; no one knew how to do it, and there were no templates to replicate. With Tmall launching its first Double 11 Carnival in 2015, the innovative model of integrating \"entertainment gala + e-commerce business\" began to emerge.</p><p>In recent years, the number of participants in e-commerce galas has been increasing. Although they do not choose the same time, they are becoming increasingly homogeneous in terms of format and content. Overall, they overlap with formats such as New Year's Eve galas and holiday galas, making it difficult for people to perceive the unique value of e-commerce galas.</p><p>Against the backdrop of increasingly homogenized products, how e-commerce galas can break through the deadlock through formal arrangement, stage interaction, and content design has become a common challenge faced by various e-commerce platforms.</p><p>Tmall's answer to this question should give us some new insights. The 2018 Tmall Double 11 Gala set up a grand prize, and audiences actively participated in the hope of becoming \"lucky koi\". This design of high stickiness, high emotional investment and high participation was later widely imitated by peer e-commerce galas. Last year, Tmall pioneered cross-screen live streaming, bringing Taobao Live to the center of the stage, refreshing the new model of galas, making the integration and connection between entertainment and e-commerce businesses closer, and further accelerating the evolution of the e-commerce ecosystem.</p><p><b>This year's Tmall Happy Night features a \"new\" content design.</b>In addition to the all-star lineup of singers and dancers, representatives of entrepreneurial new farmers were also invited to participate in the gala program, giving the most dynamic group of entrepreneurs a larger stage to showcase themselves and enriching the social value reflected behind the gala. The gala's theme was highly focused on the core theme of \"happiness.\" Through the combined effect of factors such as program arrangement, spoken word placement, and stage design, the concept of \"having fun watching and having fun buying\" was deeply rooted in people's hearts.</p><p><b>Looking at the \"newness\" of Tmall Happy Night from the perspective of business interaction,</b>The gala features six sub-stages corresponding to surprise gift-giving spaces and five life scenario spaces, cleverly bringing new products and lifestyles onto the stage and enhancing the immersive experience of on-site interaction. The innovative format of \"10,000 Happy Nights\" is interspersed, aiming to simultaneously \"stage\" 10,000 Taobao live stream shows during the Tmall 618 shopping festival, making each live stream a mini-gala show.</p><p><img src=\"https://static.tigerbbs.com/dec52f9b0782850de082a90d1714a4c4\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p>Overall, the core reason why Tmall Happy Night was able to reach new heights and bring new surprises this year is that it enriched the connotation of e-commerce galas, truly achieved a close connection between \"consumers, brand merchants, and industry\", and allowed all parties to enjoy and gain something.</p><p><b>For consumers, while enjoying a visual and auditory feast, they can also learn more about new products and trends; For brands, they have a larger platform to showcase themselves, which can bring in new customer groups and new growth. For the industry, it is an excellent platform for revealing the latest industry trends and can effectively reduce the intermediate costs of penetrating the public's mind.</b></p><p><img src=\"https://static.tigerbbs.com/c1232bf2cd81d6505917521c8317fe0f\" tg-width=\"800\" tg-height=\"214\" referrerpolicy=\"no-referrer\"></p><p>This year's Tmall Happy Night, themed \"Happiness,\" strengthens its connection with its audience from an emotional perspective. The theme of \"Life Always Has New Surprises\" for Tmall's 618 shopping festival provides the best answer to how to effectively undertake business-related tasks. Creating new surprises for life requires a completely new approach on the business side of Tmall's 618 shopping festival, which aims to better empower consumers and brand merchants through business undertaking.</p><p><b>First, new brands continue to emerge, ushering in new business growth.</b>250,000 new brands participated in Tmall's 618 shopping festival, 2.5 times that of the same period last year; 13 million products were launched, of which 1.4 million were new products for the first time; 8,200 new brands made their debut, including classic domestic products and international brands collaborating with Tmall for the first time, as well as new brands originating from Tmall and Taobao; Between June 1st and June 15th, a total of 459 new brands took the top spot in their respective niche markets during the Tmall 618 shopping festival. It can be seen that Tmall's 618 shopping festival has achieved remarkable results in supporting new brands, both in terms of quantity and quality.</p><p>In the past, it was difficult for new brands to achieve large-scale sales in the fields of daily consumer goods such as footwear, apparel, cosmetics, and food, and it was difficult to accomplish in the short term. Under Tmall's new product strategy, business trends are beginning to shift, with the Tmall New Product Innovation Center and Tmall Mini...<a href=\"https://laohu8.com/S/BBOX\">Black Box</a>With the help of these measures, the brand's new product development speed has increased by 2-5 times, and the new products have become blockbusters upon launch, with a success rate of 60%.</p><p>For example, the clothing brand Bosie, a new brand founded in 2018 by a group of students from Peking University and Tsinghua University, achieved sales exceeding 100 million yuan in less than two years after joining Tmall. “Tmall is like our platform-level partner,” said Liu Guangyao, one of the founders of Bosie. Through the brand endorsement, precise traffic, and data empowerment of the Tmall platform, startup brands like Bosie have been able to grow rapidly.</p><p><b>Secondly, from the perspective of new industry trends, this can also be seen to be showcased during the Tmall 618 shopping festival.</b>At the Tmall Happy Night gala, six major sub-sectors (food, beauty, home decoration, consumer electronics, automobiles, and apparel) appeared in the form of sub-stage spaces, showcasing the latest industry trends.</p><p>Taking the consumer electronics industry as an example, with the surge in demand for staying at home after the pandemic and the major trend of consumption upgrading, consumers generally pay attention to...<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Enjoyment, health, and appearance. Amidst this major trend, a large number of new brands have begun to emerge, such as Narwhal, Little Bear Home Appliances, and Shark.</p><p>Meanwhile, smart products are rapidly becoming integrated into consumers' lives. Over the past three years, smart products in the online consumer electronics category on Tmall have...<a href=\"https://laohu8.com/S/300024\">Robot</a>An increase of 229%.</p><p><img src=\"https://static.tigerbbs.com/76069ca425e9939de42dc394101df967\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p><b>Finally, we will create new business models to allow consumers and brands to share the benefits of the shopping festival.</b>For example, with the launch of the \"authoritative\" Tmall rankings, consumers can \"copy homework\" by following scientific big data, saving them the hassle of making overwhelming choices; The adjustment of the pre-sale time, avoiding midnight, has also been praised by consumers and brand merchants for its convenience; In addition, consumers can enjoy discounts in the simplest way, with discounts offered at multiple times and 88vip members receiving additional subsidies.</p><p>With the combination of new brands, new trends, and new ways to play, Tmall has become the main stage for helping consumers have a new life.</p><p><img src=\"https://static.tigerbbs.com/c69be423e5953e7ab01633291adb638f\" tg-width=\"800\" tg-height=\"214\" referrerpolicy=\"no-referrer\"></p><p>In addition to demonstrating its commercial value, Tmall Happy Night has also highlighted the platform's social value considerations this year.</p><p>On the evening of the gala, there was a highlight segment featuring \"new farmers\". During this segment, the host interacted with four new farmers from different places. They brought high-quality agricultural and sideline products from their places of origin, such as seasonal vegetables from Shouguang, Shandong, red rice and salted duck eggs from Yuanyang, Yunnan, and Ganzi matsutake mushrooms from Sichuan, to the stage. They were a feast for the eyes and inspired the urge to \"feast on the palate\".</p><p><img src=\"https://static.tigerbbs.com/51c556242d52fe4cce0a8d97fbc6675a\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p>Behind these new farmers are actually growers from all over the country, as well as various industrial belts. The development of the rural economy has been a hot topic in recent years, and Tmall is undoubtedly at the forefront in this regard.</p><p>This year, during the 618 shopping festival, Tmall launched \"Direct Source Supply\" at its industrial cluster venue. During the 618 shopping festival, shopkeepers directly targeted their countries of origin, selling 1.5 million units in the first hour.<a href=\"https://laohu8.com/S/LIZI\">lychee</a>100,000 boxes of cherries and 800,000 lemons; Within three hours of its launch, Huang Peihe, a succulent grower in Yunnan, received more than 5,000 orders in his live stream, with trucks full of kiwifruit departing from Wugong County, Shaanxi Province.</p><p>From the consumer's perspective, their need to \"eat well, quickly, and early\" has been met; On the supply side, Alibaba, while supporting the improvement of new rural logistics infrastructure, has also ensured...<a href=\"https://laohu8.com/S/000061\">agricultural products</a>\"It can go up and travel far,\" solving the \"first mile\" problem for agricultural products to enter cities.</p><p>As Zuo Chenming, a senior expert at Alibaba Research Institute, said, rural revitalization is a \"concerto,\" and policy, industry, infrastructure, talent, and platforms are all indispensable factors in the process of western e-commerce accelerating its catch-up. Among these, cultivating core industries is of paramount importance.</p><p>Tmall clearly positions itself as a service provider on the road to boosting the rural economy, and through its mature platform appeal and more comprehensive technological capabilities, it aims to unleash greater potential for industry development.</p><p>The successful conclusion of Tmall Happy Night represents not only a successful entertainment and audio-visual gala, but also an effective communication achieved by the platform through innovation in form and content, closely connecting the relationship between consumers, brands, and industries.</p><p>In addition, it enables new and established brands to grow better, provides consumers with more choices, leads the industry to break through the deadlock and find new growth points, and helps the rural economy undertake innovations on the business side, which also gives this gala a \"new\" mind and connotation.</p><p>As the world's largest new brand incubation platform and a leading player in the e-commerce industry, Tmall delivered an excellent performance that was both thoughtful and innovative during the final wave of 618 promotions, using Tmall Happy Night as a trigger.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Looking at Tmall's 618 shopping festival, we can see how the post-e-commerce era can start from the \"new\".</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLooking at Tmall's 618 shopping festival, we can see how the post-e-commerce era can start from the \"new\".\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/27\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/08f34cc62ee54134a6a68fe6538c26f8);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华商韬略 </p>\n<p class=\"h-time smaller\">2021-06-17 23:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Let shopping return to its simplest and purest pleasure. Last night, Tmall Happy Night came to a successful conclusion, presenting us with more than just a dazzling and gorgeous stage; it also offered many profound business insights.</p><p><img src=\"https://static.tigerbbs.com/73b05fbcdd3bf4e092f794953fcde5bf\" tg-width=\"800\" tg-height=\"214\" referrerpolicy=\"no-referrer\"></p><p>\"We've been thinking about whether there are any innovative ways to play the commercial gala? What new paths can we explore? While retaining the singing elements, can we find some more fresh content?\" said Wang Qin, producer of this year's Tmall Happy Night, in a media interview.</p><p><img src=\"https://static.tigerbbs.com/4200d36a11d1618fcff8e15a40c66891\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p>Seven years ago, the history of e-commerce galas was a blank slate; no one knew how to do it, and there were no templates to replicate. With Tmall launching its first Double 11 Carnival in 2015, the innovative model of integrating \"entertainment gala + e-commerce business\" began to emerge.</p><p>In recent years, the number of participants in e-commerce galas has been increasing. Although they do not choose the same time, they are becoming increasingly homogeneous in terms of format and content. Overall, they overlap with formats such as New Year's Eve galas and holiday galas, making it difficult for people to perceive the unique value of e-commerce galas.</p><p>Against the backdrop of increasingly homogenized products, how e-commerce galas can break through the deadlock through formal arrangement, stage interaction, and content design has become a common challenge faced by various e-commerce platforms.</p><p>Tmall's answer to this question should give us some new insights. The 2018 Tmall Double 11 Gala set up a grand prize, and audiences actively participated in the hope of becoming \"lucky koi\". This design of high stickiness, high emotional investment and high participation was later widely imitated by peer e-commerce galas. Last year, Tmall pioneered cross-screen live streaming, bringing Taobao Live to the center of the stage, refreshing the new model of galas, making the integration and connection between entertainment and e-commerce businesses closer, and further accelerating the evolution of the e-commerce ecosystem.</p><p><b>This year's Tmall Happy Night features a \"new\" content design.</b>In addition to the all-star lineup of singers and dancers, representatives of entrepreneurial new farmers were also invited to participate in the gala program, giving the most dynamic group of entrepreneurs a larger stage to showcase themselves and enriching the social value reflected behind the gala. The gala's theme was highly focused on the core theme of \"happiness.\" Through the combined effect of factors such as program arrangement, spoken word placement, and stage design, the concept of \"having fun watching and having fun buying\" was deeply rooted in people's hearts.</p><p><b>Looking at the \"newness\" of Tmall Happy Night from the perspective of business interaction,</b>The gala features six sub-stages corresponding to surprise gift-giving spaces and five life scenario spaces, cleverly bringing new products and lifestyles onto the stage and enhancing the immersive experience of on-site interaction. The innovative format of \"10,000 Happy Nights\" is interspersed, aiming to simultaneously \"stage\" 10,000 Taobao live stream shows during the Tmall 618 shopping festival, making each live stream a mini-gala show.</p><p><img src=\"https://static.tigerbbs.com/dec52f9b0782850de082a90d1714a4c4\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p>Overall, the core reason why Tmall Happy Night was able to reach new heights and bring new surprises this year is that it enriched the connotation of e-commerce galas, truly achieved a close connection between \"consumers, brand merchants, and industry\", and allowed all parties to enjoy and gain something.</p><p><b>For consumers, while enjoying a visual and auditory feast, they can also learn more about new products and trends; For brands, they have a larger platform to showcase themselves, which can bring in new customer groups and new growth. For the industry, it is an excellent platform for revealing the latest industry trends and can effectively reduce the intermediate costs of penetrating the public's mind.</b></p><p><img src=\"https://static.tigerbbs.com/c1232bf2cd81d6505917521c8317fe0f\" tg-width=\"800\" tg-height=\"214\" referrerpolicy=\"no-referrer\"></p><p>This year's Tmall Happy Night, themed \"Happiness,\" strengthens its connection with its audience from an emotional perspective. The theme of \"Life Always Has New Surprises\" for Tmall's 618 shopping festival provides the best answer to how to effectively undertake business-related tasks. Creating new surprises for life requires a completely new approach on the business side of Tmall's 618 shopping festival, which aims to better empower consumers and brand merchants through business undertaking.</p><p><b>First, new brands continue to emerge, ushering in new business growth.</b>250,000 new brands participated in Tmall's 618 shopping festival, 2.5 times that of the same period last year; 13 million products were launched, of which 1.4 million were new products for the first time; 8,200 new brands made their debut, including classic domestic products and international brands collaborating with Tmall for the first time, as well as new brands originating from Tmall and Taobao; Between June 1st and June 15th, a total of 459 new brands took the top spot in their respective niche markets during the Tmall 618 shopping festival. It can be seen that Tmall's 618 shopping festival has achieved remarkable results in supporting new brands, both in terms of quantity and quality.</p><p>In the past, it was difficult for new brands to achieve large-scale sales in the fields of daily consumer goods such as footwear, apparel, cosmetics, and food, and it was difficult to accomplish in the short term. Under Tmall's new product strategy, business trends are beginning to shift, with the Tmall New Product Innovation Center and Tmall Mini...<a href=\"https://laohu8.com/S/BBOX\">Black Box</a>With the help of these measures, the brand's new product development speed has increased by 2-5 times, and the new products have become blockbusters upon launch, with a success rate of 60%.</p><p>For example, the clothing brand Bosie, a new brand founded in 2018 by a group of students from Peking University and Tsinghua University, achieved sales exceeding 100 million yuan in less than two years after joining Tmall. “Tmall is like our platform-level partner,” said Liu Guangyao, one of the founders of Bosie. Through the brand endorsement, precise traffic, and data empowerment of the Tmall platform, startup brands like Bosie have been able to grow rapidly.</p><p><b>Secondly, from the perspective of new industry trends, this can also be seen to be showcased during the Tmall 618 shopping festival.</b>At the Tmall Happy Night gala, six major sub-sectors (food, beauty, home decoration, consumer electronics, automobiles, and apparel) appeared in the form of sub-stage spaces, showcasing the latest industry trends.</p><p>Taking the consumer electronics industry as an example, with the surge in demand for staying at home after the pandemic and the major trend of consumption upgrading, consumers generally pay attention to...<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Enjoyment, health, and appearance. Amidst this major trend, a large number of new brands have begun to emerge, such as Narwhal, Little Bear Home Appliances, and Shark.</p><p>Meanwhile, smart products are rapidly becoming integrated into consumers' lives. Over the past three years, smart products in the online consumer electronics category on Tmall have...<a href=\"https://laohu8.com/S/300024\">Robot</a>An increase of 229%.</p><p><img src=\"https://static.tigerbbs.com/76069ca425e9939de42dc394101df967\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p><b>Finally, we will create new business models to allow consumers and brands to share the benefits of the shopping festival.</b>For example, with the launch of the \"authoritative\" Tmall rankings, consumers can \"copy homework\" by following scientific big data, saving them the hassle of making overwhelming choices; The adjustment of the pre-sale time, avoiding midnight, has also been praised by consumers and brand merchants for its convenience; In addition, consumers can enjoy discounts in the simplest way, with discounts offered at multiple times and 88vip members receiving additional subsidies.</p><p>With the combination of new brands, new trends, and new ways to play, Tmall has become the main stage for helping consumers have a new life.</p><p><img src=\"https://static.tigerbbs.com/c69be423e5953e7ab01633291adb638f\" tg-width=\"800\" tg-height=\"214\" referrerpolicy=\"no-referrer\"></p><p>In addition to demonstrating its commercial value, Tmall Happy Night has also highlighted the platform's social value considerations this year.</p><p>On the evening of the gala, there was a highlight segment featuring \"new farmers\". During this segment, the host interacted with four new farmers from different places. They brought high-quality agricultural and sideline products from their places of origin, such as seasonal vegetables from Shouguang, Shandong, red rice and salted duck eggs from Yuanyang, Yunnan, and Ganzi matsutake mushrooms from Sichuan, to the stage. They were a feast for the eyes and inspired the urge to \"feast on the palate\".</p><p><img src=\"https://static.tigerbbs.com/51c556242d52fe4cce0a8d97fbc6675a\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p>Behind these new farmers are actually growers from all over the country, as well as various industrial belts. The development of the rural economy has been a hot topic in recent years, and Tmall is undoubtedly at the forefront in this regard.</p><p>This year, during the 618 shopping festival, Tmall launched \"Direct Source Supply\" at its industrial cluster venue. During the 618 shopping festival, shopkeepers directly targeted their countries of origin, selling 1.5 million units in the first hour.<a href=\"https://laohu8.com/S/LIZI\">lychee</a>100,000 boxes of cherries and 800,000 lemons; Within three hours of its launch, Huang Peihe, a succulent grower in Yunnan, received more than 5,000 orders in his live stream, with trucks full of kiwifruit departing from Wugong County, Shaanxi Province.</p><p>From the consumer's perspective, their need to \"eat well, quickly, and early\" has been met; On the supply side, Alibaba, while supporting the improvement of new rural logistics infrastructure, has also ensured...<a href=\"https://laohu8.com/S/000061\">agricultural products</a>\"It can go up and travel far,\" solving the \"first mile\" problem for agricultural products to enter cities.</p><p>As Zuo Chenming, a senior expert at Alibaba Research Institute, said, rural revitalization is a \"concerto,\" and policy, industry, infrastructure, talent, and platforms are all indispensable factors in the process of western e-commerce accelerating its catch-up. Among these, cultivating core industries is of paramount importance.</p><p>Tmall clearly positions itself as a service provider on the road to boosting the rural economy, and through its mature platform appeal and more comprehensive technological capabilities, it aims to unleash greater potential for industry development.</p><p>The successful conclusion of Tmall Happy Night represents not only a successful entertainment and audio-visual gala, but also an effective communication achieved by the platform through innovation in form and content, closely connecting the relationship between consumers, brands, and industries.</p><p>In addition, it enables new and established brands to grow better, provides consumers with more choices, leads the industry to break through the deadlock and find new growth points, and helps the rural economy undertake innovations on the business side, which also gives this gala a \"new\" mind and connotation.</p><p>As the world's largest new brand incubation platform and a leading player in the e-commerce industry, Tmall delivered an excellent performance that was both thoughtful and innovative during the final wave of 618 promotions, using Tmall Happy Night as a trigger.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/99cd66607b91f8f8a8c0f892e2e96a20","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105666914","content_text":"让购物回归最简单纯粹的开心。\n\n昨晚，天猫开心夜圆满落幕，给我们呈现的不止是片刻绚烂、华丽的舞台，还有许多深刻的商业思考。\n\n“我们一直在思考，商业晚会还有没有创新的玩法？我们还能从哪些方面去探索一些新的路径？在保留演唱元素的基础上，我们还能否寻找到一些更有新鲜感的内容？”今年天猫开心夜的制片人王琴在接受媒体采访时说道。\n\n七年前，电商晚会的历史还是一张白纸，没有人知道怎么去做，也没有能复制的模板。随着2015年天猫打造第一届双11狂欢夜，“娱乐晚会+电商业务”融合创新的模式，才开始兴起。\n近些年，电商晚会参与者变得越来越多，虽然大家在时间选择上并不完全相同，但从形式内容上看，却越来越呈现出同质化现象，整体看下来和跨年晚会、节日晚会等形式重合度较高，难让人感知到电商晚会的独特价值所在。\n在同质化愈发明显的背景下，电商晚会如何通过形式编排、舞台互动、内容设计实现破局，成为了各家电商平台所面临的共同难题。\n在这个问题上，天猫给出的回答应该能够给我们一点新思考。2018年天猫双11晚会设立终极大奖，观众们积极参与希望成为“欧气锦鲤”，这种高黏性、高情感投入、高参与度的设计，后来被同行电商晚会争相模仿；去年，天猫首创穿屏直播，将淘宝直播搬上了舞台中央，刷新晚会新模式，让娱乐与电商业务之间的融合与联系更紧密，进一步加速了电商生态的进化。\n今年天猫开心夜在内容设计上所体现出的“新”，除了全明星阵容的歌舞演绎，还邀请创业新农人代表参与到晚会节目当中，让最有活力的一群创业人得到更大展示舞台，丰富了晚会背后所体现的社会价值；晚会主题上更是高度扣题“开心”内核，在节目编排、口播植入、舞台设计等因素的综合作用下，让“看得开心，买得开心”这一理念得以深入人心。\n从业务互动看天猫开心夜所体现的“新”，晚会设立6大子舞台对应惊喜送礼空间和5大生活场景空间，把新商品、新生活方式巧妙搬上舞台，增加现场互动的沉浸感体验；其中穿插了“1万场开心夜”的创新形式，旨在让天猫618期间同步“上演”1万场淘宝直播秀，让每一场直播都成为一场小型晚会秀。\n\n总的来看，今年天猫开心夜之所以能够再创新高、焕发新惊喜，最核心的原因在于其更加丰富了电商晚会的内涵，真正做到了将“消费者—品牌商家—行业”三方紧密链接，并让各方都有所乐、有所获。\n对于消费者来说，在享受视听盛宴的同时，也能获知更多新商品、新潮流的信息；对于品牌方来说，它们有了更大的平台展示，能带来新客群、新增量；而对于行业来说，是最新行业趋势露出的绝佳平台，可以有效降低渗入大众心智的中间成本。\n\n今年天猫开心夜以“开心”为主题，是从情感侧加强了与受众的联系；而如何做好业务侧承接，天猫618“生活总有新惊喜”的主题则提供了最好解答。为生活创造新惊喜，离不开天猫618业务侧的全“新”出击，通过业务承接，更好赋能消费者和品牌商家。\n首先是新品牌持续爆发，迎来商业新增量。25万新品牌参与天猫618，是去年同期的2.5倍；1300万款商品上架，其中140万款是首次面世的新品；8200家新品牌亮相，包括第一次与天猫合作的经典国货、国际大牌，以及原生于天猫和淘宝的新品牌；在6月1日-6月15日期间，天猫618共计459个新品牌拿下细分行业TOP1。可以发现，不论是从数量上还是质量上，天猫618对新品牌的扶持成绩都是十分亮眼的。\n过去，在鞋服、美妆以及食品等日用消费品领域，新品牌想要实现规模化销售，是一件困难且短期内难以完成的事情。在天猫新品战略下，商业潮流开始转向，在天猫新品创新中心、天猫小黑盒等助力下，品牌的新品研发速度提升了2-5倍，新品上线即成爆品，新品成功率达到了60%。\n比如服饰品牌Bosie，这个由北大、清华一群学生2018年才创立的新品牌，入驻天猫不到两年销售额破亿。“天猫相当于我们的平台级合伙人”，Bosie的创始人之一刘光耀说道，通过天猫平台的品牌背书、精准流量、数据赋能，让Bosie这类创业品牌得以迅速成长。\n其次从行业新趋势角度，也能发现在天猫618期间得到展现。在天猫开心夜的晚会现场，六大细分行业（美食、美妆、家装、消电、汽车、服饰）以子舞台的场景空间形式出现，展示了行业最新潮流风向。\n以消费电子行业为例，随着疫后居家需求爆发和消费升级大趋势，消费者普遍注重智能、享受、健康以及颜值。而在这样的大趋势中，一大批新品牌开始冒头，比如云鲸、小熊家电、Shark等。\n同时，智能产品正加速走近消费者的生活当中，过去3年，天猫线上消费电子品类的智能机器人增长229%。\n\n最后是打造业务新玩法，让消费者和品牌共享购物节福利。如天猫榜单“权威”上线，消费者跟着科学大数据“抄作业”，省去了挑花眼的繁琐；预售时间的调整，避开零点，也让消费者和品牌商家都大赞方便；加上多时段派发满减优惠、88vip额外领取补贴福利的直接优惠，让消费者以最简单的方式享受到折扣福利。\n在新品牌、新趋势以及新玩法的叠加之下，天猫成为助力消费者拥有新生活的主场舞台。\n\n天猫开心夜除了商业价值的体现，今年也更加突显了平台的社会价值思考。\n晚会当晚，有一个“新农人”的环节设置亮点十足。在这环节中，主持人分别与4位来自不同地方的新农人进行了互动，他们分别带着山东寿光的时令蔬菜、云南元阳的红米+咸鸭蛋、四川的甘孜松茸等，来自原产地的优质农副产品在舞台上进行了亮相，让人大饱眼福的同时，激发了想“大饱口福”的冲动。\n\n在这些新农人的身后，其实代表着五湖四海的种植户，以及各类产业带。乡村经济的发展是近年来关注的热点，天猫在这一方面无疑走在了前列。\n今年618，天猫上线了产业带会场“源头直供”，小二们在天猫618期间直接面向原产地，开启的第1个小时，就卖出了150万颗荔枝、10万箱樱桃、80万颗柠檬；开启的第3个小时，云南多肉种植户黄培合的直播间就收到了5000多个订单，满载猕猴桃的卡车从陕西武功县密集发车。\n从消费者层面来说，他们“吃得好、快、早”的需求得到了满足；而在供给侧，阿里助力乡村物流新基建完善的基础上，保障了农产品“能上行、跑得远”，解决了农产品进城的“最先一公里”问题。\n如同阿里研究院高级专家左臣明所说，乡村振兴是一支“协奏曲”，在西部电商加速追赶的过程中，政策、产业、基建、人才与平台均是不可或缺的因素。这其中，又以培育核心产业为重中之重。\n天猫将自身清晰定位在提振乡村经济之路上的服务者，通过成熟的平台号召力和更完善的技术能力，为行业发展激发更大潜能。\n天猫开心夜的圆满落幕，代表的不仅是一场成功的娱乐视听晚会，更是平台通过形式、内容上的创新，将消费者—品牌—行业三者之间的关系紧密连接，达成了一次有效的沟通。\n此外，它让新老品牌得到更好成长、让消费者选择更加丰富、引领行业破局寻找新增长点、助力乡村经济等业务侧承接的创新，也赋予了这场晚会“新”的心智和内涵。\n作为全球最大的新品牌孵化平台、电商行业的头部玩家，天猫在618最后一波大促节点以天猫开心夜为引爆点，交出了一份既有心意也有新意的优秀答卷。","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":4600,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":125536367,"gmtCreate":1624679493459,"gmtModify":1703843487494,"author":{"id":"3584574180952528","authorId":"3584574180952528","name":"Buddy_tree","avatar":"https://static.tigerbbs.com/4b2cac557b94430440b886d913a92836","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584574180952528","authorIdStr":"3584574180952528"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125536367","repostId":"1161096348","repostType":4,"repost":{"id":"1161096348","kind":"news","weMediaInfo":{"introduction":"博闻雅识，非凡之客。","home_visible":1,"media_name":"市界","id":"1019100707","head_image":"https://static.tigerbbs.com/f7aa5576660d42f195013ced4567a7f3"},"pubTimestamp":1624675950,"share":"https://ttm.financial/m/news/1161096348?lang=en_US&edition=fundamental","pubTime":"2021-06-26 10:52","market":"sh","language":"zh","title":"Why did Chongqing Brewery go on a drunken rampage after its stock price surged 68 billion yuan in a year?","url":"https://stock-news.laohu8.com/highlight/detail?id=1161096348","media":"市界","summary":"2011年12月15日，一位网友在重庆啤酒吧发了一篇《一边吃，一边哭》的帖子：今天回到家，煮了点面吃，一边吃面一边哭，泪水滴落在碗里，没有开灯。\n彼时，重庆啤酒做了十几年的疫苗梦彻底破碎，股价从历史高","content":"<p>On December 15, 2011, a netizen posted on<a href=\"https://laohu8.com/S/600132\">Chongqing Beer</a>A post titled \"Eating While Crying\" was posted on the forum: \"I got home today, cooked some noodles, and cried while eating. Tears dripped into the bowl. I didn't turn on the light.\"</p><p>At that time, Chongqing Brewery's vaccine dream, which had lasted for more than a decade, was completely shattered, and its stock price hit the daily limit down from its historical high. This stock investor completed a realistic novel in less than thirty words.</p><p>Another netizen in the comments section commented: This stock investor did not utter a single complaint, a single curse, a single word of grief and indignation, or a single word of pain, but his state of sorrow and numbness, and the torment of his soul and body, was vividly portrayed in just one sentence. \"No lights on\" is a true reflection of the exhaustion caused by the extreme shrinkage of life desires after profound spiritual innovation, and it can be described as the finishing touch.</p><p>\"Eating noodles with the lights off\" has been recorded in the history of A-shares. Ten years have passed, and this term has become a common phrase used by stock investors. However, Chongqing Brewery has become a completely different company since the international beer giant took over.</p><p>On June 25, Chongqing Brewery closed at a record high of 188.10 yuan per share, with a total market capitalization of 91 billion yuan. Since announcing its major asset restructuring at the end of March 2020, Chongqing Brewery's stock price has risen by 324% in just over a year, with its total market value increasing by more than 68 billion yuan.</p><p>If this netizen had held it until now, he might be sitting at home watching sports matches and drinking Moutai.</p><p><b>Retail investors turn off the lights and eat noodles, while Xu Xiang \"scratches the lottery\".</b></p><p>In the Chinese beer market, Chongqing Beer was originally an ordinary entity. For many years, Chongqing Brewery has remained confined to a corner, its scale inferior to giants such as China Resources, Tsingtao, Budweiser, and Yanjing, and its reputation is not large.</p><p>However, Chongqing Brewery has left behind many stories in the capital market.</p><p><img src=\"https://static.tigerbbs.com/8cf85a89f93931ce0e0e8708ecad58f4\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>Since its establishment in 1958, Chongqing Brewery has been mainly engaged in the manufacturing and sales of beer products, and has two major local brands: \"Chongqing\" and \"Mountain City\".<b>Interestingly, what made Chongqing Beer famous was not the beer, but the vaccine.</b></p><p>In 1997, Chongqing Brewery was listed on the Shanghai Stock Exchange, raising 212 million yuan. The following year, Chongqing Brewery entered the vaccine industry. This cross-industry venture not only shocked the beer industry, but also earned Chongqing Brewery the reputation of a \"demon stock\".</p><p>Chongqing Brewery's parent company, Chongqing Brewery Group, together with the Third Military Medical University and Chongqing University, jointly established Chongqing Jiachen Biotechnology Co., Ltd. (hereinafter referred to as \"Jiachen Biotechnology\"). Chongqing Brewery first invested 14.352 million yuan to acquire 52% of Jiachen Bio's equity from Chongqing Brewery Group. After several capital increases and equity transfers, by 2001, Chongqing Brewery had acquired 93.1% of Jiachen Bio's equity.</p><p>Chongqing Brewery has high hopes for a project called \"Therapeutic (Synthetic Peptide) Hepatitis B Vaccine\" and hopes to create a \"new profit growth point\" through it.</p><p><b>However, this beautiful dream lasted for thirteen years, and in the end, it woke up with a nightmare.</b></p><p>In the first few years, judging from Chongqing Brewery's announcements, the vaccine development was progressing very smoothly. By 2005, the project's Phase II and III clinical trial applications were approved. Securities firms were also very excited and started cheering for Chongqing Brewery.</p><p>The loudest shout was undoubtedly<a href=\"https://laohu8.com/S/601377\">Industrial Securities</a>Analyst Wang Xi. In August 2009, Wang Xi's research report, \"Chongqing Beer: Oranges Are Almost Red,\" was released, arguing that the vaccine story was becoming a reality and giving Chongqing Beer a \"strong recommendation.\" After that, research reports such as \"The Oranges Are Red\" and \"The Prospects for Vaccines Are Optimistic\" were released intensively, averaging one report per month for more than two years, and each report was \"strongly recommended\".</p><p>Chongqing Brewery's stock price soared like a rocket, but it quickly plummeted from the sky.</p><p>On the evening of December 7, 2011, Chongqing Brewery announced unblinded data: the response rates of placebo and therapeutic agents were very similar. In other words, a thirteen-year vaccine study can be concluded to have failed.</p><p>Starting from December 8, Chongqing Brewery experienced nine consecutive days of limit-down trading, with its stock price falling by nearly 75% in 18 trading days. On the sixth day of limit-down trading, a suffering stock investor created the classic quote \"Turn off the lights and eat noodles\".</p><p><img src=\"https://static.tigerbbs.com/59f519f906f8c7d74e60c5befb3dd333\" tg-width=\"886\" tg-height=\"251\" referrerpolicy=\"no-referrer\"></p><p>(Screenshot from stock forum)</p><p><b>Just when the market was bearish, Xu Xiang, the \"leader of the Ningbo limit-up daredevil team,\" sensed an opportunity and made two entries and two exits, becoming a \"god\" in one battle.</b></p><p>Xu Xiang bought at the bottom for the first time, halfway up the mountain, and cut his losses before exiting the market. Afterwards, Chongqing Brewery continued to decline, but he made a comeback, holding a heavy stake of 500 million yuan in Chongqing Brewery, bringing his shareholding ratio close to the threshold for takeover bid. In February 2012, Chongqing Brewery experienced a rebound, and Xu Xiang quickly sold off his shares. Xu Xiang profited greatly from this \"battle\". This is Xu Xiang's masterpiece after founding Zexi Investment.</p><p>Afterwards, Xu Xiang said, \"Chongqing Brewery is not a stock, it's a lottery ticket. The first time you scratch it off, it's 'thank you,' and the second time you scratch it off, it's still 'thank you.' At this point, everyone throws it away like waste paper, but the lottery ticket hasn't been scratched off yet. Or rather, some people believe that it hasn't been scratched off yet. What if there's a grand prize later? That's the logic of a rebound.\"</p><p><b>Xu Xiang won the lottery, but Chongqing Beer was delayed in its prime.</b></p><p>The years from Chongqing Brewery's listing to the shattered vaccine dream were the craziest period in China's beer industry, filled with the smell of capital—mergers and acquisitions, and land grabbing. China Resources has crossed over into a beer giant.<a href=\"https://laohu8.com/S/600600\">Tsingtao Beer</a>、<a href=\"https://laohu8.com/S/000729\">Yanjing Beer</a>, and international giants<a href=\"https://laohu8.com/S/BUD\">AB InBev</a>Even Carlsberg wasn't idle. Chongqing Brewery, however, has focused its attention on its vaccine project.</p><p>By 2012, Chongqing Brewery's operating revenue had only reached 3.149 billion yuan, still shrinking in the Southwest region. Yanjing Beer has become a giant with revenue exceeding 13 billion yuan, while Tsingtao Beer's revenue has reached 25.8 billion yuan, a significant difference.</p><p>It wasn't until Carlsberg took over and the vaccine project was transferred for 1 million yuan that Chongqing Brewery returned to its main business.</p><p><b>Asset restructuring led to revenue exceeding that of Yanjing.</b></p><p>During a period when big fish eat small fish frequently played out, Chongqing Beer did not take the initiative, and in the end, it was eaten by an even bigger fish.</p><p><b>Carlsberg completely acquired Chongqing Brewery in 2013—through acquisition and tender offer, its shareholding in Chongqing Brewery rose to 60%, and Chongqing Brewery fully entered the \"Carlsberg era\".</b></p><p><img src=\"https://static.tigerbbs.com/936062ff5aaa888a04597d4680f4a6d1\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>Carlsberg is the world's third-largest beer manufacturer and entered China as early as 1978. However, in the fierce competition among giants, it only managed to capture about 5% of the market share, ranking fifth in the industry, behind China Resources Snow Breweries, Tsingtao Brewery, and others.<a href=\"https://laohu8.com/S/0RJI.UK\">AB InBev</a>After Yanjing Beer, its market is mainly located in Yunnan, Tibet, Xinjiang, Gansu, Ningxia, Qinghai and other places.</p><p>When achieving absolute control of Chongqing Brewery, Carlsberg promised to inject its domestic beer business, which potentially competes with Chongqing Brewery, into the listed company within 4-7 years in order to solve the problem of competition among peers.</p><p>After becoming a member of the Carlsberg Group, Carlsberg transferred the production and sales rights of brands such as Leburg, Carlsberg, and Triumph 1664 White Beer to Chongqing Brewery. But the beer industry has changed dramatically. By 2019, Chongqing Brewery's revenue was less than 3.6 billion yuan.</p><p>In the final year of the commitment period, Chongqing Brewery finally received good news from its controlling shareholder, Carlsberg.</p><p><b>In 2020, Carlsberg fulfilled its commitment to resolving competition within the same industry. After more than nine months of progress, it completed a major asset restructuring in mid-December of that year, injecting the high-quality beer assets controlled by Carlsberg in China into Chongqing Brewery.</b>Following the restructuring, Chongqing Brewery became Carlsberg's sole platform for operating its beer assets in China.</p><p>With the completion of the restructuring, Chongqing Brewery has transformed from a regional beer company into a national beer giant. Its core markets have expanded from Chongqing, Sichuan and Hunan to Xinjiang, Ningxia, Yunnan, Guangdong, as well as East and North China, basically achieving a nationwide layout.</p><p>In terms of branding, a combination of \"strong local brands + high-end international brands\" has been formed. International high-end brands include Carlsberg, Leburg, 1664, and Greenburg.<a href=\"https://laohu8.com/S/BRKR\">Brooke</a>Lin, etc., and strong local brands include Chongqing, Shancheng, Wusu, Xixia, Dali, and Fenghua Xueyue.<a href=\"https://laohu8.com/S/603136\">Tianmu Lake</a>To meet the consumption needs of consumers in different consumption scenarios and price ranges.</p><p>Based on this, in 2020, Chongqing Brewery stepped into the \"10 billion yuan club\".</p><p>In 2020, Chongqing Brewery achieved operating revenue of 10.942 billion yuan and net profit attributable to the parent company of 1.077 billion yuan, which were 3 times and 1.6 times that of 2019, respectively. After restating the 2019 financial statements, Chongqing Brewery's revenue and net profit increased by 7.14% and 3.26% year-on-year in 2020, respectively, making it one of the few beer companies to achieve positive growth during the same period.</p><p>Because Yanjing Beer fell behind—in 2020, its operating revenue was 10.928 billion yuan, a year-on-year decrease of 4.71%; Net profit attributable to the parent company was 197 million yuan, a year-on-year decrease of 14.32%, making Chongqing Brewery the fourth largest beer brand in China.</p><p><img src=\"https://static.tigerbbs.com/b1bc6f9ecbf8c4c115c545d2688767ee\" tg-width=\"1080\" tg-height=\"714\" referrerpolicy=\"no-referrer\"></p><p>Chongqing Brewery is also enjoying great success in the capital market. What once made stock market investors \"turn off the lights and eat noodles\" has now impressed investors.</p><p>From the announcement of the major asset restructuring in March 2020 to June 25, 2021, Chongqing Brewery's stock price rose by 324%, and its total market value surged to 91 billion yuan. During the same period, Yanjing Beer's stock price rose by only 22%, while Tsingtao Beer's stock price rose by 151%.</p><p><b>However, Chongqing Brewery's valuation is also very high. On June 25, its rolling P/E was 74 times, prompting many investors to exclaim that \"there is foam in the beer\". In comparison, Tsingtao Beer's price is 56 times higher.</b></p><p><b>Existing market, intensifying competition</b></p><p>Completing its asset restructuring and entering the \"10 billion yuan club\" does not mean that Chongqing Brewery can rest easy.</p><p>In 2013, the year Chongqing Brewery officially entered the \"Carlsberg era,\" China's extensive and rapidly developing beer industry saw its total output reach a historical high, but it began to decline from 2014 onwards. In 2020, it decreased by more than 7%.</p><p>After years of fierce competition, the Chinese beer market has stopped growing in volume, and the situation of fragmentation among the major beer giants has stabilized.<a href=\"https://laohu8.com/S/00291\">CR Beer</a>Tsingtao Brewery, AB InBev, Yanjing Beer, and Carlsberg have all established their own strong markets. According to sales statistics, in 2020, the five giants occupied approximately 92% of the market share.</p><p><img src=\"https://static.tigerbbs.com/a7f67c21605e03249b175430ee11ea22\" tg-width=\"1080\" tg-height=\"747\" referrerpolicy=\"no-referrer\"></p><p><b>Clearly, China's beer industry has begun to compete in the existing market, and product structure upgrading has become a trend in the industry's development.</b></p><p>Previously, under the low-price strategy, lager (industrial beer) was the main sales type in my country's beer market. Today, consumers pursue high-quality, personalized products, and the concept of \"drinking good wine, drinking less wine\" is further driving the beer industry towards high-end development.</p><p>Chongqing Beer's product grades are classified according to consumer price. Prices above 10 yuan are classified as high-end, prices between 6 and 9 yuan are classified as mainstream, and prices below 6 yuan are classified as economy. The main representative brands of high-end brands include Wusu, Carlsberg, and 1664; the main representative brands of mainstream brands include Lebao, Chongqing, and Dali; and the main representative brands of economic brands include Shancheng and Tianmu Lake.</p><p>In 2020, high-end products generated revenue of 3.263 billion yuan, accounting for 29.86% of total revenue. Revenue from mainstream products was 5.912 billion yuan, accounting for 54.1% of total revenue; Revenue from economic products reached 1.45 billion yuan, accounting for 13.27% of total revenue.</p><p>During the same period, only high-end products achieved a significant increase, at 26.28%. Even so, Chongqing Brewery's product focus remains on the mainstream and downstream markets.</p><p>In 2018, Anheuser-Busch InBev dominated the domestic high-end and ultra-high-end beer market, accounting for 46.6% of the market share. Behind them are Tsingtao Brewery (14.4%), China Resources Snow Beer (11.0%), Carlsberg (4.6%), and Heineken (1.7%).</p><p>In April 2019, China Resources Beer completed the acquisition of Heineken China, gaining a trump card in its high-end development process. Hou Xiaohai, CEO of China Resources Beer, proclaimed the slogan \"Battle for the high-end market\". From then on, China Resources Beer's high-end market share further expanded.</p><p>In contrast, Chongqing Brewery originally had a negligible share in the high-end market and was classified as \"other\". In 2020, the completion of the asset restructuring between Carlsberg and Chongqing Brewery had little impact on its market share in the high-end market.</p><p>Therefore,<b>Among the giants, Chongqing Brewery (Carlsberg) still ranks last in market share.</b></p><p><img src=\"https://static.tigerbbs.com/39731b5e6a5bb15e842439a2e8960194\" tg-width=\"823\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>In its annual report, Chongqing Brewery stated that the company continues to promote a high-end product business strategy, vigorously promoting the growth of high-end products in terms of product structure, increasing the sales volume and sales proportion of high-end products, and thus achieving the implementation of high-end products.</p><p>At the earnings conference, Lee Chee Kong, president of Chongqing Brewery, said that Wusu has become the company's number one brand in terms of both sales volume and revenue.</p><p>Wusu comes from Xinjiang. Initially, it built a reputation in ready-to-drink channels such as barbecue restaurants, and later became an \"internet celebrity\" through internet spread. Today, Wusu has become a major product in Chongqing's high-end beer market.</p><p>In 2021, Chongqing Brewery will add 20 new \"big city plans\" in Urumqi and Suzhou to continue to cultivate markets outside of Xinjiang.</p><p><b>However, a research report by CICC analyzed that if other leading companies increase their channel monopolies, Wusu's sales volume may fall short of expectations. In addition, competition in the high-end market is intensifying, and niche craft beer brands are also trying to get a piece of the pie through financing.</b></p><p>2021 was a big year for sports. In this height of summer, the European Championship and the Copa America, which were \"a year late,\" are in full swing, and the Tokyo Olympics will open on July 23. Of course, this period is also the time when competition among major beer brands is most intense.</p><p>Lee Chee Kong's idea is wonderful: \"Consumers can drink Leburg while singing karaoke, enjoy the romance of French style by ordering 1664 in a bar, pair it with Usu beer while eating barbecue and skewers, and drink Double Beer while eating hot pot with friends.\"</p><p>However, reality is still very cruel. In the \"involutionized\" beer industry, giants are trying every means to seek new growth. Therefore, competition will only intensify.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why did Chongqing Brewery go on a drunken rampage after its stock price surged 68 billion yuan in a year?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy did Chongqing Brewery go on a drunken rampage after its stock price surged 68 billion yuan in a year?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1019100707\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/f7aa5576660d42f195013ced4567a7f3);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">市界 </p>\n<p class=\"h-time smaller\">2021-06-26 10:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On December 15, 2011, a netizen posted on<a href=\"https://laohu8.com/S/600132\">Chongqing Beer</a>A post titled \"Eating While Crying\" was posted on the forum: \"I got home today, cooked some noodles, and cried while eating. Tears dripped into the bowl. I didn't turn on the light.\"</p><p>At that time, Chongqing Brewery's vaccine dream, which had lasted for more than a decade, was completely shattered, and its stock price hit the daily limit down from its historical high. This stock investor completed a realistic novel in less than thirty words.</p><p>Another netizen in the comments section commented: This stock investor did not utter a single complaint, a single curse, a single word of grief and indignation, or a single word of pain, but his state of sorrow and numbness, and the torment of his soul and body, was vividly portrayed in just one sentence. \"No lights on\" is a true reflection of the exhaustion caused by the extreme shrinkage of life desires after profound spiritual innovation, and it can be described as the finishing touch.</p><p>\"Eating noodles with the lights off\" has been recorded in the history of A-shares. Ten years have passed, and this term has become a common phrase used by stock investors. However, Chongqing Brewery has become a completely different company since the international beer giant took over.</p><p>On June 25, Chongqing Brewery closed at a record high of 188.10 yuan per share, with a total market capitalization of 91 billion yuan. Since announcing its major asset restructuring at the end of March 2020, Chongqing Brewery's stock price has risen by 324% in just over a year, with its total market value increasing by more than 68 billion yuan.</p><p>If this netizen had held it until now, he might be sitting at home watching sports matches and drinking Moutai.</p><p><b>Retail investors turn off the lights and eat noodles, while Xu Xiang \"scratches the lottery\".</b></p><p>In the Chinese beer market, Chongqing Beer was originally an ordinary entity. For many years, Chongqing Brewery has remained confined to a corner, its scale inferior to giants such as China Resources, Tsingtao, Budweiser, and Yanjing, and its reputation is not large.</p><p>However, Chongqing Brewery has left behind many stories in the capital market.</p><p><img src=\"https://static.tigerbbs.com/8cf85a89f93931ce0e0e8708ecad58f4\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>Since its establishment in 1958, Chongqing Brewery has been mainly engaged in the manufacturing and sales of beer products, and has two major local brands: \"Chongqing\" and \"Mountain City\".<b>Interestingly, what made Chongqing Beer famous was not the beer, but the vaccine.</b></p><p>In 1997, Chongqing Brewery was listed on the Shanghai Stock Exchange, raising 212 million yuan. The following year, Chongqing Brewery entered the vaccine industry. This cross-industry venture not only shocked the beer industry, but also earned Chongqing Brewery the reputation of a \"demon stock\".</p><p>Chongqing Brewery's parent company, Chongqing Brewery Group, together with the Third Military Medical University and Chongqing University, jointly established Chongqing Jiachen Biotechnology Co., Ltd. (hereinafter referred to as \"Jiachen Biotechnology\"). Chongqing Brewery first invested 14.352 million yuan to acquire 52% of Jiachen Bio's equity from Chongqing Brewery Group. After several capital increases and equity transfers, by 2001, Chongqing Brewery had acquired 93.1% of Jiachen Bio's equity.</p><p>Chongqing Brewery has high hopes for a project called \"Therapeutic (Synthetic Peptide) Hepatitis B Vaccine\" and hopes to create a \"new profit growth point\" through it.</p><p><b>However, this beautiful dream lasted for thirteen years, and in the end, it woke up with a nightmare.</b></p><p>In the first few years, judging from Chongqing Brewery's announcements, the vaccine development was progressing very smoothly. By 2005, the project's Phase II and III clinical trial applications were approved. Securities firms were also very excited and started cheering for Chongqing Brewery.</p><p>The loudest shout was undoubtedly<a href=\"https://laohu8.com/S/601377\">Industrial Securities</a>Analyst Wang Xi. In August 2009, Wang Xi's research report, \"Chongqing Beer: Oranges Are Almost Red,\" was released, arguing that the vaccine story was becoming a reality and giving Chongqing Beer a \"strong recommendation.\" After that, research reports such as \"The Oranges Are Red\" and \"The Prospects for Vaccines Are Optimistic\" were released intensively, averaging one report per month for more than two years, and each report was \"strongly recommended\".</p><p>Chongqing Brewery's stock price soared like a rocket, but it quickly plummeted from the sky.</p><p>On the evening of December 7, 2011, Chongqing Brewery announced unblinded data: the response rates of placebo and therapeutic agents were very similar. In other words, a thirteen-year vaccine study can be concluded to have failed.</p><p>Starting from December 8, Chongqing Brewery experienced nine consecutive days of limit-down trading, with its stock price falling by nearly 75% in 18 trading days. On the sixth day of limit-down trading, a suffering stock investor created the classic quote \"Turn off the lights and eat noodles\".</p><p><img src=\"https://static.tigerbbs.com/59f519f906f8c7d74e60c5befb3dd333\" tg-width=\"886\" tg-height=\"251\" referrerpolicy=\"no-referrer\"></p><p>(Screenshot from stock forum)</p><p><b>Just when the market was bearish, Xu Xiang, the \"leader of the Ningbo limit-up daredevil team,\" sensed an opportunity and made two entries and two exits, becoming a \"god\" in one battle.</b></p><p>Xu Xiang bought at the bottom for the first time, halfway up the mountain, and cut his losses before exiting the market. Afterwards, Chongqing Brewery continued to decline, but he made a comeback, holding a heavy stake of 500 million yuan in Chongqing Brewery, bringing his shareholding ratio close to the threshold for takeover bid. In February 2012, Chongqing Brewery experienced a rebound, and Xu Xiang quickly sold off his shares. Xu Xiang profited greatly from this \"battle\". This is Xu Xiang's masterpiece after founding Zexi Investment.</p><p>Afterwards, Xu Xiang said, \"Chongqing Brewery is not a stock, it's a lottery ticket. The first time you scratch it off, it's 'thank you,' and the second time you scratch it off, it's still 'thank you.' At this point, everyone throws it away like waste paper, but the lottery ticket hasn't been scratched off yet. Or rather, some people believe that it hasn't been scratched off yet. What if there's a grand prize later? That's the logic of a rebound.\"</p><p><b>Xu Xiang won the lottery, but Chongqing Beer was delayed in its prime.</b></p><p>The years from Chongqing Brewery's listing to the shattered vaccine dream were the craziest period in China's beer industry, filled with the smell of capital—mergers and acquisitions, and land grabbing. China Resources has crossed over into a beer giant.<a href=\"https://laohu8.com/S/600600\">Tsingtao Beer</a>、<a href=\"https://laohu8.com/S/000729\">Yanjing Beer</a>, and international giants<a href=\"https://laohu8.com/S/BUD\">AB InBev</a>Even Carlsberg wasn't idle. Chongqing Brewery, however, has focused its attention on its vaccine project.</p><p>By 2012, Chongqing Brewery's operating revenue had only reached 3.149 billion yuan, still shrinking in the Southwest region. Yanjing Beer has become a giant with revenue exceeding 13 billion yuan, while Tsingtao Beer's revenue has reached 25.8 billion yuan, a significant difference.</p><p>It wasn't until Carlsberg took over and the vaccine project was transferred for 1 million yuan that Chongqing Brewery returned to its main business.</p><p><b>Asset restructuring led to revenue exceeding that of Yanjing.</b></p><p>During a period when big fish eat small fish frequently played out, Chongqing Beer did not take the initiative, and in the end, it was eaten by an even bigger fish.</p><p><b>Carlsberg completely acquired Chongqing Brewery in 2013—through acquisition and tender offer, its shareholding in Chongqing Brewery rose to 60%, and Chongqing Brewery fully entered the \"Carlsberg era\".</b></p><p><img src=\"https://static.tigerbbs.com/936062ff5aaa888a04597d4680f4a6d1\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>Carlsberg is the world's third-largest beer manufacturer and entered China as early as 1978. However, in the fierce competition among giants, it only managed to capture about 5% of the market share, ranking fifth in the industry, behind China Resources Snow Breweries, Tsingtao Brewery, and others.<a href=\"https://laohu8.com/S/0RJI.UK\">AB InBev</a>After Yanjing Beer, its market is mainly located in Yunnan, Tibet, Xinjiang, Gansu, Ningxia, Qinghai and other places.</p><p>When achieving absolute control of Chongqing Brewery, Carlsberg promised to inject its domestic beer business, which potentially competes with Chongqing Brewery, into the listed company within 4-7 years in order to solve the problem of competition among peers.</p><p>After becoming a member of the Carlsberg Group, Carlsberg transferred the production and sales rights of brands such as Leburg, Carlsberg, and Triumph 1664 White Beer to Chongqing Brewery. But the beer industry has changed dramatically. By 2019, Chongqing Brewery's revenue was less than 3.6 billion yuan.</p><p>In the final year of the commitment period, Chongqing Brewery finally received good news from its controlling shareholder, Carlsberg.</p><p><b>In 2020, Carlsberg fulfilled its commitment to resolving competition within the same industry. After more than nine months of progress, it completed a major asset restructuring in mid-December of that year, injecting the high-quality beer assets controlled by Carlsberg in China into Chongqing Brewery.</b>Following the restructuring, Chongqing Brewery became Carlsberg's sole platform for operating its beer assets in China.</p><p>With the completion of the restructuring, Chongqing Brewery has transformed from a regional beer company into a national beer giant. Its core markets have expanded from Chongqing, Sichuan and Hunan to Xinjiang, Ningxia, Yunnan, Guangdong, as well as East and North China, basically achieving a nationwide layout.</p><p>In terms of branding, a combination of \"strong local brands + high-end international brands\" has been formed. International high-end brands include Carlsberg, Leburg, 1664, and Greenburg.<a href=\"https://laohu8.com/S/BRKR\">Brooke</a>Lin, etc., and strong local brands include Chongqing, Shancheng, Wusu, Xixia, Dali, and Fenghua Xueyue.<a href=\"https://laohu8.com/S/603136\">Tianmu Lake</a>To meet the consumption needs of consumers in different consumption scenarios and price ranges.</p><p>Based on this, in 2020, Chongqing Brewery stepped into the \"10 billion yuan club\".</p><p>In 2020, Chongqing Brewery achieved operating revenue of 10.942 billion yuan and net profit attributable to the parent company of 1.077 billion yuan, which were 3 times and 1.6 times that of 2019, respectively. After restating the 2019 financial statements, Chongqing Brewery's revenue and net profit increased by 7.14% and 3.26% year-on-year in 2020, respectively, making it one of the few beer companies to achieve positive growth during the same period.</p><p>Because Yanjing Beer fell behind—in 2020, its operating revenue was 10.928 billion yuan, a year-on-year decrease of 4.71%; Net profit attributable to the parent company was 197 million yuan, a year-on-year decrease of 14.32%, making Chongqing Brewery the fourth largest beer brand in China.</p><p><img src=\"https://static.tigerbbs.com/b1bc6f9ecbf8c4c115c545d2688767ee\" tg-width=\"1080\" tg-height=\"714\" referrerpolicy=\"no-referrer\"></p><p>Chongqing Brewery is also enjoying great success in the capital market. What once made stock market investors \"turn off the lights and eat noodles\" has now impressed investors.</p><p>From the announcement of the major asset restructuring in March 2020 to June 25, 2021, Chongqing Brewery's stock price rose by 324%, and its total market value surged to 91 billion yuan. During the same period, Yanjing Beer's stock price rose by only 22%, while Tsingtao Beer's stock price rose by 151%.</p><p><b>However, Chongqing Brewery's valuation is also very high. On June 25, its rolling P/E was 74 times, prompting many investors to exclaim that \"there is foam in the beer\". In comparison, Tsingtao Beer's price is 56 times higher.</b></p><p><b>Existing market, intensifying competition</b></p><p>Completing its asset restructuring and entering the \"10 billion yuan club\" does not mean that Chongqing Brewery can rest easy.</p><p>In 2013, the year Chongqing Brewery officially entered the \"Carlsberg era,\" China's extensive and rapidly developing beer industry saw its total output reach a historical high, but it began to decline from 2014 onwards. In 2020, it decreased by more than 7%.</p><p>After years of fierce competition, the Chinese beer market has stopped growing in volume, and the situation of fragmentation among the major beer giants has stabilized.<a href=\"https://laohu8.com/S/00291\">CR Beer</a>Tsingtao Brewery, AB InBev, Yanjing Beer, and Carlsberg have all established their own strong markets. According to sales statistics, in 2020, the five giants occupied approximately 92% of the market share.</p><p><img src=\"https://static.tigerbbs.com/a7f67c21605e03249b175430ee11ea22\" tg-width=\"1080\" tg-height=\"747\" referrerpolicy=\"no-referrer\"></p><p><b>Clearly, China's beer industry has begun to compete in the existing market, and product structure upgrading has become a trend in the industry's development.</b></p><p>Previously, under the low-price strategy, lager (industrial beer) was the main sales type in my country's beer market. Today, consumers pursue high-quality, personalized products, and the concept of \"drinking good wine, drinking less wine\" is further driving the beer industry towards high-end development.</p><p>Chongqing Beer's product grades are classified according to consumer price. Prices above 10 yuan are classified as high-end, prices between 6 and 9 yuan are classified as mainstream, and prices below 6 yuan are classified as economy. The main representative brands of high-end brands include Wusu, Carlsberg, and 1664; the main representative brands of mainstream brands include Lebao, Chongqing, and Dali; and the main representative brands of economic brands include Shancheng and Tianmu Lake.</p><p>In 2020, high-end products generated revenue of 3.263 billion yuan, accounting for 29.86% of total revenue. Revenue from mainstream products was 5.912 billion yuan, accounting for 54.1% of total revenue; Revenue from economic products reached 1.45 billion yuan, accounting for 13.27% of total revenue.</p><p>During the same period, only high-end products achieved a significant increase, at 26.28%. Even so, Chongqing Brewery's product focus remains on the mainstream and downstream markets.</p><p>In 2018, Anheuser-Busch InBev dominated the domestic high-end and ultra-high-end beer market, accounting for 46.6% of the market share. Behind them are Tsingtao Brewery (14.4%), China Resources Snow Beer (11.0%), Carlsberg (4.6%), and Heineken (1.7%).</p><p>In April 2019, China Resources Beer completed the acquisition of Heineken China, gaining a trump card in its high-end development process. Hou Xiaohai, CEO of China Resources Beer, proclaimed the slogan \"Battle for the high-end market\". From then on, China Resources Beer's high-end market share further expanded.</p><p>In contrast, Chongqing Brewery originally had a negligible share in the high-end market and was classified as \"other\". In 2020, the completion of the asset restructuring between Carlsberg and Chongqing Brewery had little impact on its market share in the high-end market.</p><p>Therefore,<b>Among the giants, Chongqing Brewery (Carlsberg) still ranks last in market share.</b></p><p><img src=\"https://static.tigerbbs.com/39731b5e6a5bb15e842439a2e8960194\" tg-width=\"823\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>In its annual report, Chongqing Brewery stated that the company continues to promote a high-end product business strategy, vigorously promoting the growth of high-end products in terms of product structure, increasing the sales volume and sales proportion of high-end products, and thus achieving the implementation of high-end products.</p><p>At the earnings conference, Lee Chee Kong, president of Chongqing Brewery, said that Wusu has become the company's number one brand in terms of both sales volume and revenue.</p><p>Wusu comes from Xinjiang. Initially, it built a reputation in ready-to-drink channels such as barbecue restaurants, and later became an \"internet celebrity\" through internet spread. Today, Wusu has become a major product in Chongqing's high-end beer market.</p><p>In 2021, Chongqing Brewery will add 20 new \"big city plans\" in Urumqi and Suzhou to continue to cultivate markets outside of Xinjiang.</p><p><b>However, a research report by CICC analyzed that if other leading companies increase their channel monopolies, Wusu's sales volume may fall short of expectations. In addition, competition in the high-end market is intensifying, and niche craft beer brands are also trying to get a piece of the pie through financing.</b></p><p>2021 was a big year for sports. In this height of summer, the European Championship and the Copa America, which were \"a year late,\" are in full swing, and the Tokyo Olympics will open on July 23. Of course, this period is also the time when competition among major beer brands is most intense.</p><p>Lee Chee Kong's idea is wonderful: \"Consumers can drink Leburg while singing karaoke, enjoy the romance of French style by ordering 1664 in a bar, pair it with Usu beer while eating barbecue and skewers, and drink Double Beer while eating hot pot with friends.\"</p><p>However, reality is still very cruel. In the \"involutionized\" beer industry, giants are trying every means to seek new growth. Therefore, competition will only intensify.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8cf85a89f93931ce0e0e8708ecad58f4","relate_stocks":{"600132":"重庆啤酒"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161096348","content_text":"2011年12月15日，一位网友在重庆啤酒吧发了一篇《一边吃，一边哭》的帖子：今天回到家，煮了点面吃，一边吃面一边哭，泪水滴落在碗里，没有开灯。\n彼时，重庆啤酒做了十几年的疫苗梦彻底破碎，股价从历史高点连续跌停。这位股民用不到三十个字，完成了一篇现实主义小说。\n评论区另有网友解读：这位股民没有一句埋怨、一声咒骂、一字悲愤、一语伤痛，但他那悲哀至麻木，灵魂与肉体备受煎熬的状态，却被短短一句话淋漓地刻画出来。“没有开灯”，正是精神深创之后人生欲望极度萎缩的疲惫之态的真实写照，可谓点睛之笔。\n“关灯吃面”载入A股史册。十年过去了，这个词已经变成了股民常用词，而重庆啤酒在国际啤酒巨头入主后，已不可同日而语。\n6月25日，重庆啤酒收盘价188.10元/股创下历史新高，总市值达910亿元。从2020年3月底公告重大资产重组至今，一年多的时间里，重庆啤酒股价涨幅达324%，总市值上涨超680亿元。\n倘若这位网友持有至今，现在可能正坐在家里看着体育比赛，喝着茅台。\n散户关灯吃面，徐翔“刮彩票”\n在中国啤酒市场，重庆啤酒原本是一个平凡的存在。多少年来，重庆啤酒都偏安一隅，规模赶不上华润、青岛、百威、燕京等巨头，名气也不大。\n不过，在资本市场上，重庆啤酒却留下了很多故事。\n\n自1958年建厂以来，重庆啤酒一直主要从事啤酒产品的制造与销售业务，拥有“重庆”和“山城”两大本地品牌。有意思的是，使重庆啤酒名声大噪的并不是啤酒，而是疫苗。\n1997年，重庆啤酒在上交所挂牌上市，募集资金2.12亿元。次年，重庆啤酒就踏入了疫苗行业。这次跨界不仅让啤酒圈震惊，而且成就了重庆啤酒“妖股”之名。\n重庆啤酒母公司重啤集团与第三军医大学、重庆大学共同组建了重庆佳辰生物工程有限公司（简称“佳辰生物”）。重庆啤酒先是斥资1435.20万元，从重啤集团手中受让佳辰生物52%的股权，之后，几经增资和股权转让，到2001年，重庆啤酒已取得佳辰生物93.1%的股权。\n重庆啤酒寄予厚望的是，一个叫“治疗用（合成肽）乙型肝炎疫苗”的项目，并想借此创造一个“新的利润增长点”。\n不过，这场美梦做了十三年，最终却以噩梦惊醒。\n开始几年，从重庆啤酒的公告中看，疫苗研发推进还非常顺利，到2005年时，项目II、III期临床试验申请得到批复。券商也非常兴奋，为重庆啤酒开始加油呐喊。\n呐喊声最大的当属兴业证券的分析师王晞。2009年8月，王晞的研究报告《重庆啤酒：橘子快红了》发布，认为疫苗故事正在变成现实，给予重庆啤酒“强烈推荐”。之后，《橘子红了》《疫苗前景乐观》等研报密集推出，两年多时间，平均每月一份，每份都“强烈推荐”。\n重庆啤酒的股价像坐上了火箭一样，但是，很快就从高空坠落了。\n2011年12月7日晚间，重庆啤酒公告了揭盲数据：安慰剂与治疗药剂应答率十分接近。也就是说，一场历经十三年的疫苗研究，可以断定失败了。\n从12月8日起，重庆啤酒连续九个一字板跌停，股价在18个交易日下跌近75%。在第六个跌停日，一位备受煎熬的股民，创作了“关灯吃面”经典语录。\n\n（股吧截图）\n就在市场看空的时候，“宁波涨停板敢死队总舵主”徐翔却嗅到了机会，两进两出，一战封“神”。\n徐翔第一次抄底，抄在了半山腰，割肉离场。之后，重庆啤酒继续下挫，他又卷土重来，重仓重庆啤酒达5亿元，持股比例接近举牌线。2012年2月，重庆啤酒迎来一波反弹，徐翔快速卖出。这一次“战役”，徐翔获利颇丰。这是徐翔成立泽熙投资后的封神之作。\n事后，徐翔说：“重庆啤酒不是股票，是彩票。第一次刮出来是‘谢谢你’，第二次刮出来还是‘谢谢你’，这时候大家都把它当废纸扔了，但彩票还没刮完，或者说，有人相信它还没刮完，万一后面是一个特等奖呢？这就是反弹的逻辑。”\n徐翔刮中了彩票，可重庆啤酒却被耽误在了最好的年纪。\n从重庆啤酒上市到疫苗梦碎的这些年，是中国啤酒行业最疯狂的时期，到处都充斥着资本的味道——并购整合，跑马圈地。华润跨界变成了啤酒巨头，青岛啤酒、燕京啤酒，以及国际巨头百威英博、嘉士伯都没闲着。而重庆啤酒，却将心思花在了疫苗项目上。\n到2012年，重庆啤酒的营业收入才达到31.49亿元，依然蜷缩在西南地区。而燕京啤酒已经成了营收超130亿的巨头，青岛啤酒的收入规模更是达到了258亿元，差距悬殊。\n直到嘉士伯的入主，疫苗项目被以100万元转让，重庆啤酒才重归主业。\n资产重组，营收超过燕京\n在大鱼吃小鱼频频上演的时期，重庆啤酒没有主动出击，到头来，自己却被更大的鱼给吃了。\n嘉士伯在2013年彻底“饮下”了重庆啤酒——通过受让和要约收购，对重庆啤酒的持股比例上升到了60%，重庆啤酒完全进入到了“嘉士伯时代”。\n\n嘉士伯是全球第三大啤酒商，早在1978年就进入中国。不过，在巨头混战的惨烈竞争中，只拼得了5%左右的市场份额，位列行业第五，身居华润雪花、青岛啤酒、百威英博、燕京啤酒之后，市场更多的是在云南、西藏、新疆、甘肃、宁夏、青海等地。\n实现对重庆啤酒的绝对控股时，嘉士伯承诺在4-7年内将其与重庆啤酒存在潜在竞争的国内啤酒业务注入到上市公司，以解决同业竞争问题。\n在成为嘉士伯集团成员后，嘉士伯将乐堡、嘉士伯、凯旋1664白啤酒等品牌的生产和销售权给了重庆啤酒。但是，啤酒行业已经变了天。到2019年，重庆啤酒营收也还不到36亿元。\n在承诺期的最后一年，重庆啤酒终于等来了控股股东嘉士伯的好消息。\n2020年，嘉士伯履行解决同业竞争承诺，历经9个多月的推进，在当年12月中旬完成了重大资产重组，将嘉士伯在中国控制的优质啤酒资产注入重庆啤酒。重组完成后，重庆啤酒成为嘉士伯在中国运营啤酒资产的唯一平台。\n随着重组的完成，重庆啤酒从一家区域性啤酒企业，变成了全国性的啤酒巨头，核心市场从重庆、四川和湖南，进一步扩展到了新疆、宁夏、云南、广东，以及华东、华北地区，基本实现了全国化布局。\n在品牌上，形成了“本地强势品牌+国际高端品牌”的组合。国际高端品牌有嘉士伯、乐堡、1664、格林堡、布鲁克林等，本地强势品牌有重庆、山城、乌苏、 西夏、大理、风花雪月、天目湖等，满足消费者在不同消费场景和价格区间的消费需求。\n基于此，2020年，重庆啤酒一步跨进了“百亿俱乐部”。\n2020年，重庆啤酒实现营业收入109.42亿元，实现归母净利润10.77亿元，分别为2019年的3倍、1.6倍。对2019年度报表数据进行重述后，2020年，重庆啤酒营收和净利润同比分别增长了7.14%、3.26%，是同期为数不多实现正增长的啤酒企业。\n因为燕京啤酒的掉队——2020年，营业收入为109.28亿元，同比下降4.71%；归母净利润为1.97亿元，同比下降14.32%——重庆啤酒一跃成为中国啤酒市场的老四。\n\n在资本市场，重庆啤酒同样风光。曾经使股民“关灯吃面”，如今令投资者刮目相看。\n从2020年3月公告重大资产重组，到2021年6月25日，重庆啤酒股价涨幅达324%，总市值冲上了910亿元。同期，燕京啤酒涨幅不过22%，青岛啤酒为151%。\n不过，重庆啤酒的估值也很高。6月25日，其滚动市盈率为74倍，让不少投资者直呼“啤酒中有泡沫”。相较之下，青岛啤酒为56倍。\n存量市场，竞争加剧\n完成资产重组、跨进“百亿俱乐部”，并不等于重庆啤酒可以高枕无忧。\n重庆啤酒正式进入“嘉士伯时代”那年，即2013年，粗放式高歌猛进的中国啤酒业，总产量到达了历史最高点，从2014年开始，就一路下滑。2020年，更是下降超过7%。\n经过多年的鏖战，中国啤酒市场已经告别了量的增长，诸侯割据的形势趋于稳定，五大啤酒巨头——华润啤酒、青岛啤酒、百威英博、燕京啤酒、嘉士伯，都已经有了自己的强势市场。按销量统计，2020年，五巨头已经占领了约92%的市场份额。\n\n很显然，中国啤酒行业已开始在存量市场竞争，产品结构升级成了行业发展的趋势。\n以前，在低价策略下，拉格啤酒（工业啤酒）是我国啤酒市场主要的销售类型。如今，消费者追求高品质、个性化的产品，“喝好酒，少喝酒”进一步驱动啤酒行业走向高端化。\n重庆啤酒的产品档次按消费价格进行划分，消费价格10元以上被划分为高档，6元至9元被划分为主流，6元以下为经济。高档主要代表品牌有乌苏、嘉士伯、1664，主流主要代表品牌有乐堡、重庆、大理，经济主要代表品牌有山城、天目湖。\n2020年，高档产品实现收入32.63亿元，营收占比为29.86%；主流产品收入59.12亿元，营收占比为54.1%；经济产品收入14.50亿元，营收占比为13.27%。\n同期，只有高档产品实现了较大的增幅，为26.28%。即使如此，重庆啤酒的产品重心依然在主流及以下市场。\n在国内高端及超高端啤酒市场，按消费量统计，2018年的时候，百威英博一家独大，占领了46.6%的市场份额。身后依次为青岛啤酒14.4%，华润雪花11.0%，嘉士伯4.6%，喜力1.7%。\n2019年4月，华润啤酒完成了对喜力中国的收购，拿到了高端化进程中的一张王牌。华润啤酒CEO侯孝海喊出了“决战高端”的口号。从此，华润啤酒的高端份额进一步扩大。\n相比之下，重庆啤酒原本在高端市场的份额微乎其微，被划归在“其他”里面。2020年，嘉士伯与重庆啤酒资产重组完成后，对其高端市场的份额影响并不大。\n因此，在巨头之中，重庆啤酒（嘉士伯）的市场份额依然处于末尾。\n\n重庆啤酒在年报中表示，公司持续推动产品高端化经营策略，从产品结构上，大力推动高档产品增长，提高高档产品的销量和销售占比，从而实现产品高端化实施。\n在业绩说明会上，重庆啤酒总裁Lee Chee Kong（李志刚，马来西亚国籍）称，无论从销量还是收入上来讲，乌苏已经成为公司第一大品牌。\n乌苏来自新疆，初期在烧烤店等即饮渠道积累了口碑，之后经过互联网传播变成了“网红”。如今，乌苏已经成了重庆啤酒高端市场的大单品。\n2021年，重庆啤酒将新增20个乌苏“大城市计划”，继续深耕新疆以外的市场。\n不过，中金研报分析称，若其他龙头加大渠道垄断力度，乌苏放量可能会不达预期。此外，高端竞争正在加剧，小众的精酿品牌通过融资也在想方设法分一块蛋糕。\n2021年是个体育“大年”。在这个盛夏，“迟到一年”的欧洲杯、美洲杯正在火热进行，东京奥运会也将于7月23日开幕。当然，这期间，也是各大啤酒品牌竞争最激烈的时候。\nLee Chee Kong的设想很美好：“消费者唱K的时候可以喝乐堡，在酒吧里点1664享受的是法式风情的浪漫，吃烧烤撸串的时候配乌苏啤酒，和朋友吃火锅的时候喝重啤。”\n不过，现实还是很残酷的。在“内卷化”的啤酒行业，巨头们都在想尽办法寻求新的增长。因此，竞争只会更加激烈。","news_type":1,"symbols_score_info":{"600132":0.9}},"isVote":1,"tweetType":1,"viewCount":4352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167463523,"gmtCreate":1624282588162,"gmtModify":1703832353286,"author":{"id":"3584574180952528","authorId":"3584574180952528","name":"Buddy_tree","avatar":"https://static.tigerbbs.com/4b2cac557b94430440b886d913a92836","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584574180952528","authorIdStr":"3584574180952528"},"themes":[],"title":"","htmlText":"??????","listText":"??????","text":"??????","images":[{"img":"https://static.tigerbbs.com/2c38d21c00524d9fd0eda5014b94e821","width":"1242","height":"2151"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/167463523","isVote":1,"tweetType":1,"viewCount":4850,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":168802327,"gmtCreate":1623969775869,"gmtModify":1703824782991,"author":{"id":"3584574180952528","authorId":"3584574180952528","name":"Buddy_tree","avatar":"https://static.tigerbbs.com/4b2cac557b94430440b886d913a92836","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584574180952528","authorIdStr":"3584574180952528"},"themes":[],"title":"","htmlText":"oooooo","listText":"oooooo","text":"oooooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/168802327","repostId":"1105666914","repostType":4,"repost":{"id":"1105666914","kind":"news","weMediaInfo":{"introduction":"华商人物与企业新媒体第一殿堂。","home_visible":1,"media_name":"华商韬略","id":"27","head_image":"https://static.tigerbbs.com/08f34cc62ee54134a6a68fe6538c26f8"},"pubTimestamp":1623942632,"share":"https://ttm.financial/m/news/1105666914?lang=en_US&edition=fundamental","pubTime":"2021-06-17 23:10","market":"hk","language":"zh","title":"Looking at Tmall's 618 shopping festival, we can see how the post-e-commerce era can start from the \"new\".","url":"https://stock-news.laohu8.com/highlight/detail?id=1105666914","media":"华商韬略","summary":"随着2015年天猫打造第一届双11狂欢夜，“娱乐晚会+电商业务”融合创新的模式，才开始兴起。为生活创造新惊喜，离不开天猫618业务侧的全“新”出击，通过业务承接，更好赋能消费者和品牌商家。作为全球最大的新品牌孵化平台、电商行业的头部玩家，天猫在618最后一波大促节点以天猫开心夜为引爆点，交出了一份既有心意也有新意的优秀答卷。","content":"<p>Let shopping return to its simplest and purest pleasure. Last night, Tmall Happy Night came to a successful conclusion, presenting us with more than just a dazzling and gorgeous stage; it also offered many profound business insights.</p><p><img src=\"https://static.tigerbbs.com/73b05fbcdd3bf4e092f794953fcde5bf\" tg-width=\"800\" tg-height=\"214\" referrerpolicy=\"no-referrer\"></p><p>\"We've been thinking about whether there are any innovative ways to play the commercial gala? What new paths can we explore? While retaining the singing elements, can we find some more fresh content?\" said Wang Qin, producer of this year's Tmall Happy Night, in a media interview.</p><p><img src=\"https://static.tigerbbs.com/4200d36a11d1618fcff8e15a40c66891\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p>Seven years ago, the history of e-commerce galas was a blank slate; no one knew how to do it, and there were no templates to replicate. With Tmall launching its first Double 11 Carnival in 2015, the innovative model of integrating \"entertainment gala + e-commerce business\" began to emerge.</p><p>In recent years, the number of participants in e-commerce galas has been increasing. Although they do not choose the same time, they are becoming increasingly homogeneous in terms of format and content. Overall, they overlap with formats such as New Year's Eve galas and holiday galas, making it difficult for people to perceive the unique value of e-commerce galas.</p><p>Against the backdrop of increasingly homogenized products, how e-commerce galas can break through the deadlock through formal arrangement, stage interaction, and content design has become a common challenge faced by various e-commerce platforms.</p><p>Tmall's answer to this question should give us some new insights. The 2018 Tmall Double 11 Gala set up a grand prize, and audiences actively participated in the hope of becoming \"lucky koi\". This design of high stickiness, high emotional investment and high participation was later widely imitated by peer e-commerce galas. Last year, Tmall pioneered cross-screen live streaming, bringing Taobao Live to the center of the stage, refreshing the new model of galas, making the integration and connection between entertainment and e-commerce businesses closer, and further accelerating the evolution of the e-commerce ecosystem.</p><p><b>This year's Tmall Happy Night features a \"new\" content design.</b>In addition to the all-star lineup of singers and dancers, representatives of entrepreneurial new farmers were also invited to participate in the gala program, giving the most dynamic group of entrepreneurs a larger stage to showcase themselves and enriching the social value reflected behind the gala. The gala's theme was highly focused on the core theme of \"happiness.\" Through the combined effect of factors such as program arrangement, spoken word placement, and stage design, the concept of \"having fun watching and having fun buying\" was deeply rooted in people's hearts.</p><p><b>Looking at the \"newness\" of Tmall Happy Night from the perspective of business interaction,</b>The gala features six sub-stages corresponding to surprise gift-giving spaces and five life scenario spaces, cleverly bringing new products and lifestyles onto the stage and enhancing the immersive experience of on-site interaction. The innovative format of \"10,000 Happy Nights\" is interspersed, aiming to simultaneously \"stage\" 10,000 Taobao live stream shows during the Tmall 618 shopping festival, making each live stream a mini-gala show.</p><p><img src=\"https://static.tigerbbs.com/dec52f9b0782850de082a90d1714a4c4\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p>Overall, the core reason why Tmall Happy Night was able to reach new heights and bring new surprises this year is that it enriched the connotation of e-commerce galas, truly achieved a close connection between \"consumers, brand merchants, and industry\", and allowed all parties to enjoy and gain something.</p><p><b>For consumers, while enjoying a visual and auditory feast, they can also learn more about new products and trends; For brands, they have a larger platform to showcase themselves, which can bring in new customer groups and new growth. For the industry, it is an excellent platform for revealing the latest industry trends and can effectively reduce the intermediate costs of penetrating the public's mind.</b></p><p><img src=\"https://static.tigerbbs.com/c1232bf2cd81d6505917521c8317fe0f\" tg-width=\"800\" tg-height=\"214\" referrerpolicy=\"no-referrer\"></p><p>This year's Tmall Happy Night, themed \"Happiness,\" strengthens its connection with its audience from an emotional perspective. The theme of \"Life Always Has New Surprises\" for Tmall's 618 shopping festival provides the best answer to how to effectively undertake business-related tasks. Creating new surprises for life requires a completely new approach on the business side of Tmall's 618 shopping festival, which aims to better empower consumers and brand merchants through business undertaking.</p><p><b>First, new brands continue to emerge, ushering in new business growth.</b>250,000 new brands participated in Tmall's 618 shopping festival, 2.5 times that of the same period last year; 13 million products were launched, of which 1.4 million were new products for the first time; 8,200 new brands made their debut, including classic domestic products and international brands collaborating with Tmall for the first time, as well as new brands originating from Tmall and Taobao; Between June 1st and June 15th, a total of 459 new brands took the top spot in their respective niche markets during the Tmall 618 shopping festival. It can be seen that Tmall's 618 shopping festival has achieved remarkable results in supporting new brands, both in terms of quantity and quality.</p><p>In the past, it was difficult for new brands to achieve large-scale sales in the fields of daily consumer goods such as footwear, apparel, cosmetics, and food, and it was difficult to accomplish in the short term. Under Tmall's new product strategy, business trends are beginning to shift, with the Tmall New Product Innovation Center and Tmall Mini...<a href=\"https://laohu8.com/S/BBOX\">Black Box</a>With the help of these measures, the brand's new product development speed has increased by 2-5 times, and the new products have become blockbusters upon launch, with a success rate of 60%.</p><p>For example, the clothing brand Bosie, a new brand founded in 2018 by a group of students from Peking University and Tsinghua University, achieved sales exceeding 100 million yuan in less than two years after joining Tmall. “Tmall is like our platform-level partner,” said Liu Guangyao, one of the founders of Bosie. Through the brand endorsement, precise traffic, and data empowerment of the Tmall platform, startup brands like Bosie have been able to grow rapidly.</p><p><b>Secondly, from the perspective of new industry trends, this can also be seen to be showcased during the Tmall 618 shopping festival.</b>At the Tmall Happy Night gala, six major sub-sectors (food, beauty, home decoration, consumer electronics, automobiles, and apparel) appeared in the form of sub-stage spaces, showcasing the latest industry trends.</p><p>Taking the consumer electronics industry as an example, with the surge in demand for staying at home after the pandemic and the major trend of consumption upgrading, consumers generally pay attention to...<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Enjoyment, health, and appearance. Amidst this major trend, a large number of new brands have begun to emerge, such as Narwhal, Little Bear Home Appliances, and Shark.</p><p>Meanwhile, smart products are rapidly becoming integrated into consumers' lives. Over the past three years, smart products in the online consumer electronics category on Tmall have...<a href=\"https://laohu8.com/S/300024\">Robot</a>An increase of 229%.</p><p><img src=\"https://static.tigerbbs.com/76069ca425e9939de42dc394101df967\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p><b>Finally, we will create new business models to allow consumers and brands to share the benefits of the shopping festival.</b>For example, with the launch of the \"authoritative\" Tmall rankings, consumers can \"copy homework\" by following scientific big data, saving them the hassle of making overwhelming choices; The adjustment of the pre-sale time, avoiding midnight, has also been praised by consumers and brand merchants for its convenience; In addition, consumers can enjoy discounts in the simplest way, with discounts offered at multiple times and 88vip members receiving additional subsidies.</p><p>With the combination of new brands, new trends, and new ways to play, Tmall has become the main stage for helping consumers have a new life.</p><p><img src=\"https://static.tigerbbs.com/c69be423e5953e7ab01633291adb638f\" tg-width=\"800\" tg-height=\"214\" referrerpolicy=\"no-referrer\"></p><p>In addition to demonstrating its commercial value, Tmall Happy Night has also highlighted the platform's social value considerations this year.</p><p>On the evening of the gala, there was a highlight segment featuring \"new farmers\". During this segment, the host interacted with four new farmers from different places. They brought high-quality agricultural and sideline products from their places of origin, such as seasonal vegetables from Shouguang, Shandong, red rice and salted duck eggs from Yuanyang, Yunnan, and Ganzi matsutake mushrooms from Sichuan, to the stage. They were a feast for the eyes and inspired the urge to \"feast on the palate\".</p><p><img src=\"https://static.tigerbbs.com/51c556242d52fe4cce0a8d97fbc6675a\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p>Behind these new farmers are actually growers from all over the country, as well as various industrial belts. The development of the rural economy has been a hot topic in recent years, and Tmall is undoubtedly at the forefront in this regard.</p><p>This year, during the 618 shopping festival, Tmall launched \"Direct Source Supply\" at its industrial cluster venue. During the 618 shopping festival, shopkeepers directly targeted their countries of origin, selling 1.5 million units in the first hour.<a href=\"https://laohu8.com/S/LIZI\">lychee</a>100,000 boxes of cherries and 800,000 lemons; Within three hours of its launch, Huang Peihe, a succulent grower in Yunnan, received more than 5,000 orders in his live stream, with trucks full of kiwifruit departing from Wugong County, Shaanxi Province.</p><p>From the consumer's perspective, their need to \"eat well, quickly, and early\" has been met; On the supply side, Alibaba, while supporting the improvement of new rural logistics infrastructure, has also ensured...<a href=\"https://laohu8.com/S/000061\">agricultural products</a>\"It can go up and travel far,\" solving the \"first mile\" problem for agricultural products to enter cities.</p><p>As Zuo Chenming, a senior expert at Alibaba Research Institute, said, rural revitalization is a \"concerto,\" and policy, industry, infrastructure, talent, and platforms are all indispensable factors in the process of western e-commerce accelerating its catch-up. Among these, cultivating core industries is of paramount importance.</p><p>Tmall clearly positions itself as a service provider on the road to boosting the rural economy, and through its mature platform appeal and more comprehensive technological capabilities, it aims to unleash greater potential for industry development.</p><p>The successful conclusion of Tmall Happy Night represents not only a successful entertainment and audio-visual gala, but also an effective communication achieved by the platform through innovation in form and content, closely connecting the relationship between consumers, brands, and industries.</p><p>In addition, it enables new and established brands to grow better, provides consumers with more choices, leads the industry to break through the deadlock and find new growth points, and helps the rural economy undertake innovations on the business side, which also gives this gala a \"new\" mind and connotation.</p><p>As the world's largest new brand incubation platform and a leading player in the e-commerce industry, Tmall delivered an excellent performance that was both thoughtful and innovative during the final wave of 618 promotions, using Tmall Happy Night as a trigger.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Looking at Tmall's 618 shopping festival, we can see how the post-e-commerce era can start from the \"new\".</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLooking at Tmall's 618 shopping festival, we can see how the post-e-commerce era can start from the \"new\".\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/27\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/08f34cc62ee54134a6a68fe6538c26f8);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华商韬略 </p>\n<p class=\"h-time smaller\">2021-06-17 23:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Let shopping return to its simplest and purest pleasure. Last night, Tmall Happy Night came to a successful conclusion, presenting us with more than just a dazzling and gorgeous stage; it also offered many profound business insights.</p><p><img src=\"https://static.tigerbbs.com/73b05fbcdd3bf4e092f794953fcde5bf\" tg-width=\"800\" tg-height=\"214\" referrerpolicy=\"no-referrer\"></p><p>\"We've been thinking about whether there are any innovative ways to play the commercial gala? What new paths can we explore? While retaining the singing elements, can we find some more fresh content?\" said Wang Qin, producer of this year's Tmall Happy Night, in a media interview.</p><p><img src=\"https://static.tigerbbs.com/4200d36a11d1618fcff8e15a40c66891\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p>Seven years ago, the history of e-commerce galas was a blank slate; no one knew how to do it, and there were no templates to replicate. With Tmall launching its first Double 11 Carnival in 2015, the innovative model of integrating \"entertainment gala + e-commerce business\" began to emerge.</p><p>In recent years, the number of participants in e-commerce galas has been increasing. Although they do not choose the same time, they are becoming increasingly homogeneous in terms of format and content. Overall, they overlap with formats such as New Year's Eve galas and holiday galas, making it difficult for people to perceive the unique value of e-commerce galas.</p><p>Against the backdrop of increasingly homogenized products, how e-commerce galas can break through the deadlock through formal arrangement, stage interaction, and content design has become a common challenge faced by various e-commerce platforms.</p><p>Tmall's answer to this question should give us some new insights. The 2018 Tmall Double 11 Gala set up a grand prize, and audiences actively participated in the hope of becoming \"lucky koi\". This design of high stickiness, high emotional investment and high participation was later widely imitated by peer e-commerce galas. Last year, Tmall pioneered cross-screen live streaming, bringing Taobao Live to the center of the stage, refreshing the new model of galas, making the integration and connection between entertainment and e-commerce businesses closer, and further accelerating the evolution of the e-commerce ecosystem.</p><p><b>This year's Tmall Happy Night features a \"new\" content design.</b>In addition to the all-star lineup of singers and dancers, representatives of entrepreneurial new farmers were also invited to participate in the gala program, giving the most dynamic group of entrepreneurs a larger stage to showcase themselves and enriching the social value reflected behind the gala. The gala's theme was highly focused on the core theme of \"happiness.\" Through the combined effect of factors such as program arrangement, spoken word placement, and stage design, the concept of \"having fun watching and having fun buying\" was deeply rooted in people's hearts.</p><p><b>Looking at the \"newness\" of Tmall Happy Night from the perspective of business interaction,</b>The gala features six sub-stages corresponding to surprise gift-giving spaces and five life scenario spaces, cleverly bringing new products and lifestyles onto the stage and enhancing the immersive experience of on-site interaction. The innovative format of \"10,000 Happy Nights\" is interspersed, aiming to simultaneously \"stage\" 10,000 Taobao live stream shows during the Tmall 618 shopping festival, making each live stream a mini-gala show.</p><p><img src=\"https://static.tigerbbs.com/dec52f9b0782850de082a90d1714a4c4\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p>Overall, the core reason why Tmall Happy Night was able to reach new heights and bring new surprises this year is that it enriched the connotation of e-commerce galas, truly achieved a close connection between \"consumers, brand merchants, and industry\", and allowed all parties to enjoy and gain something.</p><p><b>For consumers, while enjoying a visual and auditory feast, they can also learn more about new products and trends; For brands, they have a larger platform to showcase themselves, which can bring in new customer groups and new growth. For the industry, it is an excellent platform for revealing the latest industry trends and can effectively reduce the intermediate costs of penetrating the public's mind.</b></p><p><img src=\"https://static.tigerbbs.com/c1232bf2cd81d6505917521c8317fe0f\" tg-width=\"800\" tg-height=\"214\" referrerpolicy=\"no-referrer\"></p><p>This year's Tmall Happy Night, themed \"Happiness,\" strengthens its connection with its audience from an emotional perspective. The theme of \"Life Always Has New Surprises\" for Tmall's 618 shopping festival provides the best answer to how to effectively undertake business-related tasks. Creating new surprises for life requires a completely new approach on the business side of Tmall's 618 shopping festival, which aims to better empower consumers and brand merchants through business undertaking.</p><p><b>First, new brands continue to emerge, ushering in new business growth.</b>250,000 new brands participated in Tmall's 618 shopping festival, 2.5 times that of the same period last year; 13 million products were launched, of which 1.4 million were new products for the first time; 8,200 new brands made their debut, including classic domestic products and international brands collaborating with Tmall for the first time, as well as new brands originating from Tmall and Taobao; Between June 1st and June 15th, a total of 459 new brands took the top spot in their respective niche markets during the Tmall 618 shopping festival. It can be seen that Tmall's 618 shopping festival has achieved remarkable results in supporting new brands, both in terms of quantity and quality.</p><p>In the past, it was difficult for new brands to achieve large-scale sales in the fields of daily consumer goods such as footwear, apparel, cosmetics, and food, and it was difficult to accomplish in the short term. Under Tmall's new product strategy, business trends are beginning to shift, with the Tmall New Product Innovation Center and Tmall Mini...<a href=\"https://laohu8.com/S/BBOX\">Black Box</a>With the help of these measures, the brand's new product development speed has increased by 2-5 times, and the new products have become blockbusters upon launch, with a success rate of 60%.</p><p>For example, the clothing brand Bosie, a new brand founded in 2018 by a group of students from Peking University and Tsinghua University, achieved sales exceeding 100 million yuan in less than two years after joining Tmall. “Tmall is like our platform-level partner,” said Liu Guangyao, one of the founders of Bosie. Through the brand endorsement, precise traffic, and data empowerment of the Tmall platform, startup brands like Bosie have been able to grow rapidly.</p><p><b>Secondly, from the perspective of new industry trends, this can also be seen to be showcased during the Tmall 618 shopping festival.</b>At the Tmall Happy Night gala, six major sub-sectors (food, beauty, home decoration, consumer electronics, automobiles, and apparel) appeared in the form of sub-stage spaces, showcasing the latest industry trends.</p><p>Taking the consumer electronics industry as an example, with the surge in demand for staying at home after the pandemic and the major trend of consumption upgrading, consumers generally pay attention to...<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Enjoyment, health, and appearance. Amidst this major trend, a large number of new brands have begun to emerge, such as Narwhal, Little Bear Home Appliances, and Shark.</p><p>Meanwhile, smart products are rapidly becoming integrated into consumers' lives. Over the past three years, smart products in the online consumer electronics category on Tmall have...<a href=\"https://laohu8.com/S/300024\">Robot</a>An increase of 229%.</p><p><img src=\"https://static.tigerbbs.com/76069ca425e9939de42dc394101df967\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p><b>Finally, we will create new business models to allow consumers and brands to share the benefits of the shopping festival.</b>For example, with the launch of the \"authoritative\" Tmall rankings, consumers can \"copy homework\" by following scientific big data, saving them the hassle of making overwhelming choices; The adjustment of the pre-sale time, avoiding midnight, has also been praised by consumers and brand merchants for its convenience; In addition, consumers can enjoy discounts in the simplest way, with discounts offered at multiple times and 88vip members receiving additional subsidies.</p><p>With the combination of new brands, new trends, and new ways to play, Tmall has become the main stage for helping consumers have a new life.</p><p><img src=\"https://static.tigerbbs.com/c69be423e5953e7ab01633291adb638f\" tg-width=\"800\" tg-height=\"214\" referrerpolicy=\"no-referrer\"></p><p>In addition to demonstrating its commercial value, Tmall Happy Night has also highlighted the platform's social value considerations this year.</p><p>On the evening of the gala, there was a highlight segment featuring \"new farmers\". During this segment, the host interacted with four new farmers from different places. They brought high-quality agricultural and sideline products from their places of origin, such as seasonal vegetables from Shouguang, Shandong, red rice and salted duck eggs from Yuanyang, Yunnan, and Ganzi matsutake mushrooms from Sichuan, to the stage. They were a feast for the eyes and inspired the urge to \"feast on the palate\".</p><p><img src=\"https://static.tigerbbs.com/51c556242d52fe4cce0a8d97fbc6675a\" tg-width=\"1000\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p><p>Behind these new farmers are actually growers from all over the country, as well as various industrial belts. The development of the rural economy has been a hot topic in recent years, and Tmall is undoubtedly at the forefront in this regard.</p><p>This year, during the 618 shopping festival, Tmall launched \"Direct Source Supply\" at its industrial cluster venue. During the 618 shopping festival, shopkeepers directly targeted their countries of origin, selling 1.5 million units in the first hour.<a href=\"https://laohu8.com/S/LIZI\">lychee</a>100,000 boxes of cherries and 800,000 lemons; Within three hours of its launch, Huang Peihe, a succulent grower in Yunnan, received more than 5,000 orders in his live stream, with trucks full of kiwifruit departing from Wugong County, Shaanxi Province.</p><p>From the consumer's perspective, their need to \"eat well, quickly, and early\" has been met; On the supply side, Alibaba, while supporting the improvement of new rural logistics infrastructure, has also ensured...<a href=\"https://laohu8.com/S/000061\">agricultural products</a>\"It can go up and travel far,\" solving the \"first mile\" problem for agricultural products to enter cities.</p><p>As Zuo Chenming, a senior expert at Alibaba Research Institute, said, rural revitalization is a \"concerto,\" and policy, industry, infrastructure, talent, and platforms are all indispensable factors in the process of western e-commerce accelerating its catch-up. Among these, cultivating core industries is of paramount importance.</p><p>Tmall clearly positions itself as a service provider on the road to boosting the rural economy, and through its mature platform appeal and more comprehensive technological capabilities, it aims to unleash greater potential for industry development.</p><p>The successful conclusion of Tmall Happy Night represents not only a successful entertainment and audio-visual gala, but also an effective communication achieved by the platform through innovation in form and content, closely connecting the relationship between consumers, brands, and industries.</p><p>In addition, it enables new and established brands to grow better, provides consumers with more choices, leads the industry to break through the deadlock and find new growth points, and helps the rural economy undertake innovations on the business side, which also gives this gala a \"new\" mind and connotation.</p><p>As the world's largest new brand incubation platform and a leading player in the e-commerce industry, Tmall delivered an excellent performance that was both thoughtful and innovative during the final wave of 618 promotions, using Tmall Happy Night as a trigger.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/99cd66607b91f8f8a8c0f892e2e96a20","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105666914","content_text":"让购物回归最简单纯粹的开心。\n\n昨晚，天猫开心夜圆满落幕，给我们呈现的不止是片刻绚烂、华丽的舞台，还有许多深刻的商业思考。\n\n“我们一直在思考，商业晚会还有没有创新的玩法？我们还能从哪些方面去探索一些新的路径？在保留演唱元素的基础上，我们还能否寻找到一些更有新鲜感的内容？”今年天猫开心夜的制片人王琴在接受媒体采访时说道。\n\n七年前，电商晚会的历史还是一张白纸，没有人知道怎么去做，也没有能复制的模板。随着2015年天猫打造第一届双11狂欢夜，“娱乐晚会+电商业务”融合创新的模式，才开始兴起。\n近些年，电商晚会参与者变得越来越多，虽然大家在时间选择上并不完全相同，但从形式内容上看，却越来越呈现出同质化现象，整体看下来和跨年晚会、节日晚会等形式重合度较高，难让人感知到电商晚会的独特价值所在。\n在同质化愈发明显的背景下，电商晚会如何通过形式编排、舞台互动、内容设计实现破局，成为了各家电商平台所面临的共同难题。\n在这个问题上，天猫给出的回答应该能够给我们一点新思考。2018年天猫双11晚会设立终极大奖，观众们积极参与希望成为“欧气锦鲤”，这种高黏性、高情感投入、高参与度的设计，后来被同行电商晚会争相模仿；去年，天猫首创穿屏直播，将淘宝直播搬上了舞台中央，刷新晚会新模式，让娱乐与电商业务之间的融合与联系更紧密，进一步加速了电商生态的进化。\n今年天猫开心夜在内容设计上所体现出的“新”，除了全明星阵容的歌舞演绎，还邀请创业新农人代表参与到晚会节目当中，让最有活力的一群创业人得到更大展示舞台，丰富了晚会背后所体现的社会价值；晚会主题上更是高度扣题“开心”内核，在节目编排、口播植入、舞台设计等因素的综合作用下，让“看得开心，买得开心”这一理念得以深入人心。\n从业务互动看天猫开心夜所体现的“新”，晚会设立6大子舞台对应惊喜送礼空间和5大生活场景空间，把新商品、新生活方式巧妙搬上舞台，增加现场互动的沉浸感体验；其中穿插了“1万场开心夜”的创新形式，旨在让天猫618期间同步“上演”1万场淘宝直播秀，让每一场直播都成为一场小型晚会秀。\n\n总的来看，今年天猫开心夜之所以能够再创新高、焕发新惊喜，最核心的原因在于其更加丰富了电商晚会的内涵，真正做到了将“消费者—品牌商家—行业”三方紧密链接，并让各方都有所乐、有所获。\n对于消费者来说，在享受视听盛宴的同时，也能获知更多新商品、新潮流的信息；对于品牌方来说，它们有了更大的平台展示，能带来新客群、新增量；而对于行业来说，是最新行业趋势露出的绝佳平台，可以有效降低渗入大众心智的中间成本。\n\n今年天猫开心夜以“开心”为主题，是从情感侧加强了与受众的联系；而如何做好业务侧承接，天猫618“生活总有新惊喜”的主题则提供了最好解答。为生活创造新惊喜，离不开天猫618业务侧的全“新”出击，通过业务承接，更好赋能消费者和品牌商家。\n首先是新品牌持续爆发，迎来商业新增量。25万新品牌参与天猫618，是去年同期的2.5倍；1300万款商品上架，其中140万款是首次面世的新品；8200家新品牌亮相，包括第一次与天猫合作的经典国货、国际大牌，以及原生于天猫和淘宝的新品牌；在6月1日-6月15日期间，天猫618共计459个新品牌拿下细分行业TOP1。可以发现，不论是从数量上还是质量上，天猫618对新品牌的扶持成绩都是十分亮眼的。\n过去，在鞋服、美妆以及食品等日用消费品领域，新品牌想要实现规模化销售，是一件困难且短期内难以完成的事情。在天猫新品战略下，商业潮流开始转向，在天猫新品创新中心、天猫小黑盒等助力下，品牌的新品研发速度提升了2-5倍，新品上线即成爆品，新品成功率达到了60%。\n比如服饰品牌Bosie，这个由北大、清华一群学生2018年才创立的新品牌，入驻天猫不到两年销售额破亿。“天猫相当于我们的平台级合伙人”，Bosie的创始人之一刘光耀说道，通过天猫平台的品牌背书、精准流量、数据赋能，让Bosie这类创业品牌得以迅速成长。\n其次从行业新趋势角度，也能发现在天猫618期间得到展现。在天猫开心夜的晚会现场，六大细分行业（美食、美妆、家装、消电、汽车、服饰）以子舞台的场景空间形式出现，展示了行业最新潮流风向。\n以消费电子行业为例，随着疫后居家需求爆发和消费升级大趋势，消费者普遍注重智能、享受、健康以及颜值。而在这样的大趋势中，一大批新品牌开始冒头，比如云鲸、小熊家电、Shark等。\n同时，智能产品正加速走近消费者的生活当中，过去3年，天猫线上消费电子品类的智能机器人增长229%。\n\n最后是打造业务新玩法，让消费者和品牌共享购物节福利。如天猫榜单“权威”上线，消费者跟着科学大数据“抄作业”，省去了挑花眼的繁琐；预售时间的调整，避开零点，也让消费者和品牌商家都大赞方便；加上多时段派发满减优惠、88vip额外领取补贴福利的直接优惠，让消费者以最简单的方式享受到折扣福利。\n在新品牌、新趋势以及新玩法的叠加之下，天猫成为助力消费者拥有新生活的主场舞台。\n\n天猫开心夜除了商业价值的体现，今年也更加突显了平台的社会价值思考。\n晚会当晚，有一个“新农人”的环节设置亮点十足。在这环节中，主持人分别与4位来自不同地方的新农人进行了互动，他们分别带着山东寿光的时令蔬菜、云南元阳的红米+咸鸭蛋、四川的甘孜松茸等，来自原产地的优质农副产品在舞台上进行了亮相，让人大饱眼福的同时，激发了想“大饱口福”的冲动。\n\n在这些新农人的身后，其实代表着五湖四海的种植户，以及各类产业带。乡村经济的发展是近年来关注的热点，天猫在这一方面无疑走在了前列。\n今年618，天猫上线了产业带会场“源头直供”，小二们在天猫618期间直接面向原产地，开启的第1个小时，就卖出了150万颗荔枝、10万箱樱桃、80万颗柠檬；开启的第3个小时，云南多肉种植户黄培合的直播间就收到了5000多个订单，满载猕猴桃的卡车从陕西武功县密集发车。\n从消费者层面来说，他们“吃得好、快、早”的需求得到了满足；而在供给侧，阿里助力乡村物流新基建完善的基础上，保障了农产品“能上行、跑得远”，解决了农产品进城的“最先一公里”问题。\n如同阿里研究院高级专家左臣明所说，乡村振兴是一支“协奏曲”，在西部电商加速追赶的过程中，政策、产业、基建、人才与平台均是不可或缺的因素。这其中，又以培育核心产业为重中之重。\n天猫将自身清晰定位在提振乡村经济之路上的服务者，通过成熟的平台号召力和更完善的技术能力，为行业发展激发更大潜能。\n天猫开心夜的圆满落幕，代表的不仅是一场成功的娱乐视听晚会，更是平台通过形式、内容上的创新，将消费者—品牌—行业三者之间的关系紧密连接，达成了一次有效的沟通。\n此外，它让新老品牌得到更好成长、让消费者选择更加丰富、引领行业破局寻找新增长点、助力乡村经济等业务侧承接的创新，也赋予了这场晚会“新”的心智和内涵。\n作为全球最大的新品牌孵化平台、电商行业的头部玩家，天猫在618最后一波大促节点以天猫开心夜为引爆点，交出了一份既有心意也有新意的优秀答卷。","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":4600,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
